United Rentals, Inc. $URI Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in United Rentals, Inc. (NYSE:URI) by 9.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,565 shares of the construction company’s stock after selling 1,788 shares during the period. Handelsbanken Fonder AB’s holdings in United Rentals were worth $19,899,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of URI. Core Wealth Advisors LLC acquired a new position in shares of United Rentals in the 4th quarter valued at $28,000. MV Capital Management Inc. purchased a new position in United Rentals in the 4th quarter worth about $28,000. Laurel Wealth Advisors LLC acquired a new stake in United Rentals during the 4th quarter worth about $32,000. Hilton Head Capital Partners LLC acquired a new stake in United Rentals during the 4th quarter worth about $34,000. Finally, Sunbelt Securities Inc. lifted its stake in United Rentals by 2,300.0% during the third quarter. Sunbelt Securities Inc. now owns 48 shares of the construction company’s stock valued at $46,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on URI shares. KeyCorp reissued an “overweight” rating and issued a $1,350.00 target price on shares of United Rentals in a research report on Friday, July 24th. Evercore restated an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Bank of America raised their price objective on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Argus reiterated a “buy” rating and set a $1,250.00 price objective on shares of United Rentals in a research report on Tuesday, August 4th. Finally, BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price on the stock in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

Insider Activity

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the sale, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by company insiders.

United Rentals Trading Down 1.1%

NYSE:URI opened at $1,130.92 on Thursday. The stock has a market cap of $70.39 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.80. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The stock’s 50-day moving average is $1,092.50 and its two-hundred day moving average is $937.46.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.47 earnings per share. As a group, equities research analysts forecast that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $1.97 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio is presently 18.92%.

United Rentals Company 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.