Nordea Investment Management AB increased its stake in Amerco (NASDAQ:UHAL) by 348.4% during the second quarter, Holdings Channel reports. The fund owned 26,455 shares of the company’s stock after buying an additional 20,555 shares during the period. Nordea Investment Management AB’s holdings in Amerco were worth $9,909,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of UHAL. BNP Paribas Arbitrage SA increased its position in shares of Amerco by 36.1% in the second quarter. BNP Paribas Arbitrage SA now owns 332 shares of the company’s stock worth $124,000 after buying an additional 88 shares in the last quarter. MU Investments Co. Ltd. increased its position in shares of Amerco by 11.4% in the second quarter. MU Investments Co. Ltd. now owns 490 shares of the company’s stock worth $183,000 after buying an additional 50 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Amerco by 8.7% in the second quarter. LS Investment Advisors LLC now owns 526 shares of the company’s stock worth $197,000 after buying an additional 42 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Amerco during the second quarter worth $207,000. Finally, Lorber David A acquired a new position in shares of Amerco during the first quarter worth $243,000. Hedge funds and other institutional investors own 28.14% of the company’s stock.
Shares of Amerco (NASDAQ:UHAL) traded down 0.19% during trading on Monday, hitting $333.22. The stock had a trading volume of 59,156 shares. The firm has a 50 day moving average of $333.66 and a 200 day moving average of $357.15. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 14.04 and a beta of 1.38. Amerco has a 1-year low of $305.66 and a 1-year high of $436.89.
Amerco (NASDAQ:UHAL) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $7.51 EPS for the quarter, missing the Zacks’ consensus estimate of $8.72 by $1.21. The firm earned $923.40 million during the quarter, compared to analyst estimates of $941.32 million. Amerco had a return on equity of 19.28% and a net margin of 14.03%. Amerco’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.74 earnings per share. Analysts expect that Amerco will post $23.64 EPS for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Thursday, November 3rd. Investors of record on Thursday, October 20th will be given a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, October 18th.
Separately, CL King downgraded Amerco from a “strong-buy” rating to a “buy” rating and dropped their target price for the company from $449.00 to $405.00 in a report on Friday, August 5th.
In related news, Director Daniel Robert Mullen sold 1,000 shares of Amerco stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $352.00, for a total value of $352,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 52.00% of the stock is owned by corporate insiders.
AMERCO is a do-it-yourself moving and storage operator through its subsidiary, U-Haul International, Inc (U-Haul). The Company supplies its products and services to help people move and store their household and commercial goods through U-Haul. It sells U-Haul brand boxes, tape, and other moving and self-storage products and services to do-it-yourself moving and storage customers at its distribution outlets and through uhaul.com and eMove Websites.