Handelsbanken Fonder AB Grows Stock Holdings in United Rentals, Inc. (NYSE:URI)

Handelsbanken Fonder AB increased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 29.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,027 shares of the construction company’s stock after purchasing an additional 3,830 shares during the period. Handelsbanken Fonder AB’s holdings in United Rentals were worth $11,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of 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 buying an additional 85,325 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of United Rentals by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after buying an additional 9,256 shares during the last quarter. Franklin Resources Inc. grew its holdings in United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock worth $862,110,000 after acquiring an additional 57,002 shares during the period. JPMorgan Chase & Co. raised its position in United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after acquiring an additional 105,287 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in United Rentals by 7.6% in the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after acquiring an additional 52,037 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on URI. Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective on the stock in a research note on Tuesday, January 14th. Truist Financial restated a “buy” rating and set a $956.00 price target (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Evercore ISI dropped their target price on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Argus lifted their price target on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and an average price target of $829.00.

United Rentals Price Performance

NYSE:URI opened at $656.42 on Friday. The stock has a 50 day moving average of $731.32 and a two-hundred day moving average of $769.95. United Rentals, Inc. has a 12 month low of $596.48 and a 12 month high of $896.98. The firm has a market cap of $42.87 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. On average, analysts expect that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Wednesday, February 12th. United Rentals’s dividend payout ratio is 18.48%.

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.