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

AMF Tjanstepension AB boosted its holdings in United Rentals, Inc. (NYSE:URI) by 59.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,246 shares of the construction company’s stock after buying an additional 96,323 shares during the period. United Rentals makes up 1.4% of AMF Tjanstepension AB’s investment portfolio, making the stock its 20th biggest holding. AMF Tjanstepension AB owned approximately 0.38% of United Rentals worth $185,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of URI. First Financial Corp IN bought a new stake in shares of United Rentals during the 1st quarter valued at $25,000. Rise Advisors LLC purchased a new stake in shares of United Rentals in the first quarter worth about $28,000. Riverview Trust Co purchased a new stake in shares of United Rentals in the first quarter worth about $31,000. AdvisorNet Financial Inc boosted its position in shares of United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Finally, PFS Partners LLC purchased a new position in United Rentals during the first quarter valued at approximately $36,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Up 3.8 %

United Rentals stock traded up $23.69 during trading hours on Friday, reaching $646.73. The company had a trading volume of 788,938 shares, compared to its average volume of 575,035. The firm has a market cap of $43.07 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 2.04 and a beta of 1.75. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $732.37. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The company has a 50-day moving average price of $660.38 and a 200 day moving average price of $644.07.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.95 earnings per share. Equities analysts forecast that United Rentals, Inc. will post 43.87 earnings per share for the current year.

United Rentals Announces Dividend

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

Analysts Set New Price Targets

URI has been the topic of several research analyst reports. Raymond James began coverage on shares of United Rentals in a report on Friday. They issued an “outperform” rating and a $750.00 price target on the stock. Citigroup started coverage on United Rentals in a report on Wednesday. They issued a “buy” rating and a $745.00 price target on the stock. The Goldman Sachs Group boosted 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. JPMorgan Chase & Co. started coverage on shares of United Rentals in a research note on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price on the stock. Finally, Truist Financial boosted their price target on shares of United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $638.40.

Insider Buying and Selling at United Rentals

In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction 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 approximately $72,341,742. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The sale was disclosed in a filing 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 dated Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the transaction, 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. Insiders own 0.53% of the company’s stock.

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.