United Rentals, Inc. (NYSE:URI) Shares Sold by Swedbank AB

Swedbank AB lowered its stake in United Rentals, Inc. (NYSE:URI) by 5.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 51,229 shares of the construction company’s stock after selling 2,993 shares during the quarter. Swedbank AB’s holdings in United Rentals were worth $36,088,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC grew its position in United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after acquiring an additional 1,604,715 shares in the last quarter. JPMorgan Chase & Co. boosted 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 valued at $637,968,000 after purchasing an additional 105,287 shares during the period. FMR LLC grew its holdings in United Rentals by 3.7% during the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after purchasing an additional 85,325 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in United Rentals by 10.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock worth $570,167,000 after buying an additional 66,957 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after buying an additional 57,002 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Up 2.1 %

Shares of NYSE:URI opened at $774.50 on Friday. The company’s fifty day moving average is $766.58 and its two-hundred day moving average is $768.75. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. United Rentals, Inc. has a 1-year low of $596.48 and a 1-year high of $896.98. The stock has a market capitalization of $50.82 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 1.73 and a beta of 1.69.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. Equities analysts anticipate that United Rentals, Inc. will post 43.43 EPS for the current year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 0.92%. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 16.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial lowered their target price on United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup dropped their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Barclays increased their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Bank of America lifted their price target on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $813.73.

About United Rentals

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.