Nordea Investment Management AB Raises Position in United Rentals, Inc. (NYSE:URI)

Nordea Investment Management AB grew its position in shares of United Rentals, Inc. (NYSE:URI) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 732,954 shares of the construction company’s stock after buying an additional 52,037 shares during the quarter. Nordea Investment Management AB’s holdings in United Rentals were worth $517,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Everence Capital Management Inc. boosted its stake in United Rentals by 6.2% during the 4th quarter. Everence Capital Management Inc. now owns 1,880 shares of the construction company’s stock valued at $1,324,000 after purchasing an additional 110 shares during the last quarter. GAMMA Investing LLC raised its position in United Rentals by 26.2% in the 4th quarter. GAMMA Investing LLC now owns 1,141 shares of the construction company’s stock worth $804,000 after buying an additional 237 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of United Rentals by 104.7% during the 4th quarter. Versant Capital Management Inc now owns 131 shares of the construction company’s stock valued at $92,000 after acquiring an additional 67 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of United Rentals by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after acquiring an additional 105,287 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of United Rentals by 3.3% in the third quarter. Principal Financial Group Inc. now owns 79,235 shares of the construction company’s stock worth $64,159,000 after acquiring an additional 2,554 shares during the period. Institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the transaction, the senior vice president now owns 2,044 shares in the company, valued at $1,682,702.56. This trade represents a 30.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

United Rentals Stock Up 0.8 %

Shares of URI opened at $695.31 on Monday. The business’s 50 day moving average is $802.52 and its 200 day moving average is $757.66. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 12-month low of $533.70 and a 12-month high of $896.98. The company has a market capitalization of $45.63 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.69.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. United Rentals’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $11.73 EPS. Research analysts expect that United Rentals, Inc. will post 43.46 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. United Rentals’s payout ratio is 17.03%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Argus raised their target price on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays upped their price objective on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Citigroup boosted their price target on United Rentals from $955.00 to $985.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial increased their price objective on shares of United Rentals from $955.00 to $965.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird boosted their target price on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $792.69.

United Rentals Company 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.