KLP Kapitalforvaltning AS Makes New $17.14 Million Investment in United Rentals, Inc. (NYSE:URI)

KLP Kapitalforvaltning AS acquired a new position in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,331 shares of the construction company’s stock, valued at approximately $17,140,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. AXQ Capital LP bought a new position in United Rentals during the 4th quarter worth $261,000. Sei Investments Co. increased its stake in shares of United Rentals by 16.2% in the 4th quarter. Sei Investments Co. now owns 21,629 shares of the construction company’s stock valued at $15,236,000 after purchasing an additional 3,021 shares during the last quarter. Mizuho Securities USA LLC increased its stake in shares of United Rentals by 44.0% in the 4th quarter. Mizuho Securities USA LLC now owns 6,219 shares of the construction company’s stock valued at $4,381,000 after purchasing an additional 1,901 shares during the last quarter. Virtu Financial LLC bought a new position in shares of United Rentals in the 4th quarter valued at $2,590,000. Finally, Quantbot Technologies LP bought a new position in shares of United Rentals in the 4th quarter valued at $10,290,000. Institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on URI shares. Truist Financial reiterated a “buy” rating and issued a $956.00 price target (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Bank of America decreased their price target on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research note on Friday. 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 decreased their price target on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Citigroup decreased their price target on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $815.67.

United Rentals Stock Down 0.3 %

Shares of URI opened at $628.63 on Monday. The company has a market capitalization of $41.05 billion, a PE ratio of 16.22, a PEG ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 12 month low of $585.27 and a 12 month high of $896.98. The stock’s 50-day moving average price is $696.39 and its two-hundred day moving average price is $757.16. 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 announced its 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 anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a yield of 1.14%. United Rentals’s payout ratio is presently 18.48%.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 1,100 shares of the business’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 transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.