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

KLP Kapitalforvaltning AS purchased a new stake in United Rentals, Inc. (NYSE:URI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,331 shares of the construction company's stock, valued at approximately $17,140,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of URI. Adell Harriman & Carpenter Inc. grew its holdings in shares of United Rentals by 1.8% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company's stock valued at $573,000 after buying an additional 14 shares during the last quarter. Valmark Advisers Inc. boosted its stake in United Rentals by 1.8% during the 4th quarter. Valmark Advisers Inc. now owns 788 shares of the construction company's stock valued at $555,000 after purchasing an additional 14 shares during the last quarter. Erste Asset Management GmbH increased its holdings in United Rentals by 0.5% during the 4th quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company's stock worth $2,002,000 after purchasing an additional 14 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of United Rentals by 3.4% in the third quarter. Brooklyn Investment Group now owns 450 shares of the construction company's stock worth $364,000 after purchasing an additional 15 shares during the last quarter. Finally, Klingman & Associates LLC lifted its holdings in shares of United Rentals by 2.3% in the fourth quarter. Klingman & Associates LLC now owns 669 shares of the construction company's stock valued at $471,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 96.26% of the company's stock.

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United Rentals Stock Performance

NYSE:URI traded up $6.63 during trading hours on Tuesday, reaching $653.71. The stock had a trading volume of 693,836 shares, compared to its average volume of 548,274. The stock has a market cap of $42.69 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The stock has a 50 day simple moving average of $694.07 and a 200 day simple moving average of $756.62. 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 12-month low of $585.27 and a 12-month high of $896.98.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 1.10%. This is a positive change from United Rentals's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals's payout ratio is currently 18.48%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on URI shares. Morgan Stanley lowered their price target on United Rentals from $775.00 to $765.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Citigroup cut their price target on shares of United Rentals from $985.00 to $835.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Evercore ISI decreased their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein upgraded United Rentals from an "underperform" rating to a "market perform" rating and cut their target price for the stock from $705.00 to $666.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $804.15.

Insider Buying and Selling at United Rentals

In other 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 value of $701,910.00. Following the completion of the transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.