SEB Asset Management AB Invests $13.12 Million in United Rentals, Inc. $URI

SEB Asset Management AB purchased a new position in shares of United Rentals, Inc. (NYSE:URI) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 18,011 shares of the construction company’s stock, valued at approximately $13,122,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Aventura Private Wealth LLC acquired a new position in United Rentals in the fourth quarter worth $27,000. Core Wealth Advisors LLC bought a new stake in shares of United Rentals during the fourth quarter worth $28,000. MV Capital Management Inc. bought a new stake in shares of United Rentals during the fourth quarter worth $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of United Rentals in the fourth quarter valued at $32,000. Finally, Fortitude Family Office LLC increased its stake in shares of United Rentals by 121.1% in the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock valued at $34,000 after buying an additional 23 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Down 3.1%

Shares of NYSE URI opened at $1,012.39 on Tuesday. The firm has a market capitalization of $63.43 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 1.67 and a beta of 1.79. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,143.69. The firm’s 50-day moving average is $1,042.78 and its 200-day moving average is $912.44.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period last year, the firm earned $8.86 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts expect that United Rentals, Inc. will post 46.85 EPS for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals’s payout ratio is currently 20.10%.

Insider Buying and Selling at United Rentals

In other news, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the transaction, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the sale, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. This trade represents a 18.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

URI has been the topic of several research reports. Evercore reiterated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. KeyCorp raised their price objective on shares of United Rentals from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Truist Financial boosted their target price on shares of United Rentals from $1,209.00 to $1,421.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings downgraded shares of United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Finally, Citigroup upped their target price on shares of United Rentals from $1,210.00 to $1,270.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,140.00.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.