Skandinaviska Enskilda Banken AB publ Buys 6,475 Shares of United Rentals, Inc. (NYSE:URI)

Skandinaviska Enskilda Banken AB publ increased its stake in shares of United Rentals, Inc. (NYSE:URI) by 36.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,409 shares of the construction company’s stock after buying an additional 6,475 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in United Rentals were worth $17,233,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. FMR LLC grew its holdings in United Rentals by 3.7% during the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after buying an additional 85,325 shares in the last quarter. Geode Capital Management LLC grew its holdings in United Rentals by 0.6% during 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 in 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 buying an additional 57,002 shares in the last quarter. JPMorgan Chase & Co. grew its stake in United Rentals by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares during the period. Finally, Nordea Investment Management AB grew its stake in United Rentals by 7.6% in the 4th quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after purchasing an additional 52,037 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of URI opened at $593.07 on Friday. The stock’s 50-day simple moving average is $705.09 and its 200 day simple moving average is $762.28. The stock has a market capitalization of $38.73 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. United Rentals, Inc. has a 52-week low of $585.27 and a 52-week high of $896.98.

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

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.21%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on URI shares. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Evercore ISI dropped their price target on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Truist Financial reaffirmed 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. Argus upped their price target on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upped their price target on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, United Rentals presently has an average rating of “Moderate Buy” and a consensus price target of $829.00.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.53% of the company’s stock.

About United Rentals

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.