Principal Financial Group Inc. lowered its position in shares of United Rentals Inc. (NYSE:URI) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 134,300 shares of the company’s stock after selling 3,899 shares during the period. Principal Financial Group Inc. owned 0.16% of United Rentals worth $9,012,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Bank of Montreal Can purchased a new position in shares of United Rentals during the second quarter worth $121,012,000. Calamos Advisors LLC purchased a new position in shares of United Rentals during the second quarter worth $36,853,000. Dimensional Fund Advisors LP boosted its position in shares of United Rentals by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,131,681 shares of the company’s stock worth $143,022,000 after buying an additional 427,970 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of United Rentals by 5,876.5% in the second quarter. Teacher Retirement System of Texas now owns 302,111 shares of the company’s stock worth $20,272,000 after buying an additional 297,056 shares in the last quarter. Finally, American Century Companies Inc. boosted its position 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 worth $30,834,000 after buying an additional 285,051 shares in the last quarter. 91.02% of the stock is currently owned by institutional investors.
United Rentals Inc. (NYSE:URI) opened at 75.70 on Tuesday. The stock has a 50 day moving average price of $78.93 and a 200 day moving average price of $71.63. The stock has a market cap of $6.52 billion, a PE ratio of 11.41 and a beta of 2.61. United Rentals Inc. has a 1-year low of $41.90 and a 1-year high of $84.63.
United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm earned $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business earned $1.95 EPS. United Rentals’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts predict that United Rentals Inc. will post $8.08 EPS for the current fiscal year.
A number of equities analysts recently weighed in on URI shares. Macquarie started coverage on United Rentals in a report on Thursday, August 25th. They set an “underperform” rating and a $92.00 price objective on the stock. Bank of America Corp. raised United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a research note on Thursday, August 18th. OTR Global raised United Rentals from a “mixed” rating to a “positive” rating in a research note on Friday, September 23rd. Argus began coverage on United Rentals in a research note on Tuesday, October 4th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a research note on Tuesday, August 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. United Rentals currently has an average rating of “Hold” and a consensus target price of $75.74.
In related news, COO Matthew John Flannery sold 15,046 shares of United Rentals stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $78.12, for a total value of $1,175,393.52. Following the sale, the chief operating officer now directly owns 23,663 shares in the company, valued at approximately $1,848,553.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $1,527,000.00. Following the completion of the sale, the insider now owns 387,169 shares in the company, valued at $29,560,353.15. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
United Rentals Company Profile
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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