Calamos Advisors LLC acquired a new stake in shares of United Rentals Inc. (NYSE:URI) during the second quarter, Holdings Channel reports. The fund acquired 549,228 shares of the company’s stock, valued at approximately $36,853,000.
Several other hedge funds also recently made changes to their positions in the stock. Calamos Wealth Management LLC bought a new stake in shares of United Rentals during the second quarter valued at about $233,000. American Century Companies Inc. boosted its stake in shares of United Rentals by 163.4% in the second quarter. American Century Companies Inc. now owns 459,529 shares of the company’s stock valued at $30,834,000 after buying an additional 285,051 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of United Rentals by 28.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 7,704 shares of the company’s stock valued at $517,000 after buying an additional 1,705 shares during the last quarter. Boston Advisors LLC boosted its stake in shares of United Rentals by 19.1% in the second quarter. Boston Advisors LLC now owns 292,395 shares of the company’s stock valued at $19,620,000 after buying an additional 46,905 shares during the last quarter. Finally, PGGM Investments boosted its stake in shares of United Rentals by 49.3% in the second quarter. PGGM Investments now owns 563,873 shares of the company’s stock valued at $37,836,000 after buying an additional 186,208 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.
United Rentals Inc. (NYSE:URI) traded down 0.99% during trading on Tuesday, hitting $73.22. The company had a trading volume of 1,916,132 shares. The company has a market cap of $6.31 billion, a PE ratio of 11.04 and a beta of 2.37. United Rentals Inc. has a 12 month low of $41.90 and a 12 month high of $84.63. The company’s 50 day moving average price is $79.50 and its 200-day moving average price is $69.91.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.24. United Rentals had a return on equity of 50.82% and a net margin of 10.51%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company earned $1.95 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts expect that United Rentals Inc. will post $8.05 earnings per share for the current year.
Several brokerages have recently issued reports on URI. OTR Global upgraded United Rentals from a “mixed” rating to a “positive” rating in a research note on Friday. Zacks Investment Research cut United Rentals from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Deutsche Bank AG began coverage on United Rentals in a research note on Tuesday, September 6th. They issued a “hold” rating and a $79.00 price objective on the stock. Axiom Securities reiterated a “sell” rating on shares of United Rentals in a research note on Tuesday, August 30th. Finally, Macquarie assumed coverage on United Rentals in a report on Thursday, August 25th. They issued an “underperform” rating and a $92.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $74.85.
In other news, insider Michael Kneeland sold 20,000 shares of United Rentals stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $76.35, for a total transaction of $1,527,000.00. Following the sale, the insider now directly owns 387,169 shares of the company’s stock, valued at $29,560,353.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO William B. Plummer sold 15,811 shares of United Rentals stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $78.74, for a total value of $1,244,958.14. Following the sale, the chief financial officer now directly owns 73,209 shares in the company, valued at $5,764,476.66. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
About United Rentals
United Rentals, Inc is a holding company engaged in the business of equipment rental. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc (URNA) and subsidiaries of URNA. It operates through two segments: general rentals, and trench, power and pump. The general rentals includes the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts, general tools and light equipment, such as pressure washers, water pumps and power tools.
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