DNB Asset Management AS Grows Position in United Rentals, Inc. $URI

DNB Asset Management AS raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 4.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 18,483 shares of the construction company’s stock after purchasing an additional 819 shares during the period. DNB Asset Management AS’s holdings in United Rentals were worth $17,645,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Loomis Sayles & Co. L P bought a new position in shares of United Rentals during the 2nd quarter valued at approximately $28,000. Salomon & Ludwin LLC raised its stake in United Rentals by 650.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Abich Financial Wealth Management LLC purchased a new position in United Rentals during the third quarter valued at approximately $29,000. Cedar Mountain Advisors LLC bought a new position in shares of United Rentals in the third quarter worth approximately $32,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of United Rentals in the third quarter worth $40,000. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

NYSE URI opened at $837.85 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.88. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $1,021.47. The business has a 50 day simple moving average of $871.81 and a two-hundred day simple moving average of $889.52. The stock has a market capitalization of $52.78 billion, a PE ratio of 21.66, a P/E/G ratio of 1.39 and a beta of 1.70.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the company earned $11.59 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.9%. This is an increase from United Rentals’s previous quarterly dividend of $1.79. The ex-dividend date was Wednesday, February 11th. United Rentals’s dividend payout ratio (DPR) is 20.37%.

United Rentals announced that its board has authorized a share buyback program on Wednesday, January 28th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

URI has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price objective on United Rentals from $1,150.00 to $970.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Robert W. Baird set a $970.00 target price on United Rentals in a research report on Friday, January 30th. Truist Financial set a $972.00 price target on United Rentals in a report on Friday, January 30th. Finally, Sanford C. Bernstein set a $965.00 price objective on shares of United Rentals in a report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $925.59.

Insiders Place Their Bets

In related news, EVP William E. Grace sold 1,498 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $790.89, for a total value of $1,184,753.22. Following the completion of the transaction, the executive vice president owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. This trade represents a 17.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the completion of the transaction, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.53% of the company’s stock.

About United Rentals

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.