AMF Tjanstepension AB Increases Stock Position in United Rentals, Inc. (NYSE:URI)

AMF Tjanstepension AB grew its position in United Rentals, Inc. (NYSE:URI) by 59.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 257,246 shares of the construction company’s stock after acquiring an additional 96,323 shares during the quarter. United Rentals comprises approximately 1.4% of AMF Tjanstepension AB’s portfolio, making the stock its 20th biggest position. AMF Tjanstepension AB’s holdings in United Rentals were worth $185,539,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Capital Research Global Investors boosted its position in shares of United Rentals by 39.1% during the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after purchasing an additional 1,799,997 shares in the last quarter. Norges Bank purchased a new position in United Rentals in the 4th quarter valued at about $977,443,000. International Assets Investment Management LLC boosted its stake in shares of United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after purchasing an additional 1,041,281 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after acquiring an additional 72,066 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of United Rentals by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock valued at $714,578,000 after purchasing an additional 56,948 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

URI has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a report on Monday, April 29th. The Goldman Sachs Group lifted their price objective on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup began coverage on shares of United Rentals in a research note on Wednesday. They issued a “buy” rating and a $745.00 target price on the stock. Oppenheimer restated a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Finally, Stifel Nicolaus lifted their target price on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, United Rentals currently has an average rating of “Hold” and a consensus price target of $638.40.

United Rentals Stock Performance

United Rentals stock traded up $23.69 during trading hours on Friday, hitting $646.73. The stock had a trading volume of 788,938 shares, compared to its average volume of 575,035. The company has a 50-day moving average of $660.38 and a two-hundred day moving average of $644.07. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The company has a market cap of $43.07 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 2.04 and a beta of 1.75. United Rentals, Inc. has a fifty-two week low of $387.01 and a fifty-two week high of $732.37.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.35 by $0.80. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.95 earnings per share. On average, equities research analysts anticipate that United Rentals, Inc. will post 43.87 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.01%. The ex-dividend date was Tuesday, May 7th. United Rentals’s dividend payout ratio is currently 17.66%.

Insider Activity

In related news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the transaction, the chief executive officer now owns 103,400 shares in the company, valued at approximately $72,341,742. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other United Rentals news, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.