Advisors Asset Management Inc. lowered its position in United Rentals Inc. (NYSE:URI) by 18.5% during the second quarter, Holdings Channel reports. The firm owned 5,771 shares of the company’s stock after selling 1,312 shares during the period. Advisors Asset Management Inc.’s holdings in United Rentals were worth $387,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of URI. Feltz Wealth PLAN Inc. purchased a new position in United Rentals during the second quarter worth $123,000. Invictus RG increased its stake in United Rentals by 2,900.0% in the first quarter. Invictus RG now owns 2,040 shares of the company’s stock valued at $127,000 after buying an additional 1,972 shares during the last quarter. Huntington National Bank increased its stake in United Rentals by 66.6% in the second quarter. Huntington National Bank now owns 2,308 shares of the company’s stock valued at $155,000 after buying an additional 923 shares during the last quarter. Integrated Investment Consultants LLC bought a new stake in United Rentals during the second quarter valued at $181,000. Finally, Euclid Advisors LLC bought a new stake in United Rentals during the first quarter valued at $221,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.
Shares of United Rentals Inc. (NYSE:URI) traded up 3.30% during midday trading on Friday, reaching $78.86. The company’s stock had a trading volume of 1,398,787 shares. The stock has a 50-day moving average of $79.17 and a 200 day moving average of $70.09. United Rentals Inc. has a 12-month low of $41.90 and a 12-month high of $84.63. The firm has a market capitalization of $6.79 billion, a P/E ratio of 11.89 and a beta of 2.37.
United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.24. United Rentals had a net margin of 10.51% and a return on equity of 50.82%. 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 business’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts predict that United Rentals Inc. will post $8.05 EPS for the current fiscal year.
Several analysts recently weighed in on the company. RBC Capital Markets restated a “hold” rating and issued a $80.00 price target (up previously from $68.00) on shares of United Rentals in a research note on Friday, July 22nd. Bank of America Corp. upgraded 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. Zacks Investment Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research note on Wednesday, July 27th. Macquarie assumed coverage on United Rentals in a research note on Thursday, August 25th. They issued an “underperform” rating and a $92.00 price target on the stock. Finally, Morgan Stanley restated a “buy” rating on shares of United Rentals in a research note on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. United Rentals has a consensus rating of “Hold” and an average price target of $74.85.
In other United Rentals news, VP Jessica Graziano sold 877 shares of United Rentals stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $76.34, for a total value of $66,950.18. Following the transaction, the vice president now directly owns 7,127 shares of the company’s stock, valued at $544,075.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William B. Plummer sold 15,811 shares of United Rentals stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $78.74, for a total transaction of $1,244,958.14. Following the completion of the transaction, 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. 1.30% of the stock is currently owned by company 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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