Norges Bank Takes Position in United Rentals, Inc. (NYSE:URI)

Norges Bank purchased a new position in shares of United Rentals, Inc. (NYSE:URI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 987,615 shares of the construction company’s stock, valued at approximately $695,716,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of United Rentals in the 4th quarter worth $171,733,000. Raymond James Financial Inc. bought a new position in shares of United Rentals during the 4th quarter worth approximately $164,493,000. TD Asset Management Inc. boosted its stake in shares of United Rentals by 207.8% in the 4th quarter. TD Asset Management Inc. now owns 234,366 shares of the construction company’s stock worth $165,097,000 after buying an additional 158,214 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of United Rentals by 15.4% in 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, National Pension Service increased its position in shares of United Rentals by 79.8% during the fourth quarter. National Pension Service now owns 167,813 shares of the construction company’s stock valued at $118,214,000 after acquiring an additional 74,479 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

URI has been the topic of several research analyst reports. Morgan Stanley cut their price objective on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Bank of America lowered their price objective on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and decreased their price target for the stock from $705.00 to $666.00 in a research note on Tuesday. Finally, Citigroup dropped their price objective 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and an average price target of $804.15.

United Rentals Stock Performance

NYSE:URI opened at $647.13 on Friday. United Rentals, Inc. has a 52-week low of $585.27 and a 52-week high of $896.98. The business’s fifty day moving average is $689.85 and its 200 day moving average is $755.06. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The firm has a market cap of $42.26 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last announced 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 predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The company 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. This represents a $7.16 annualized dividend and a yield of 1.11%. This is an increase from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. United Rentals’s dividend payout ratio (DPR) is presently 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.