Herndon Capital Management LLC decreased its position in United Rentals Inc. (NYSE:URI) by 31.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 461,582 shares of the company’s stock after selling 214,881 shares during the period. Herndon Capital Management LLC’s holdings in United Rentals were worth $30,973,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in URI. Calamos Advisors LLC purchased a new position in shares of United Rentals during the second quarter worth $36,853,000. Panagora Asset Management Inc. increased its stake in United Rentals by 12.8% in the first quarter. Panagora Asset Management Inc. now owns 576,903 shares of the company’s stock valued at $35,878,000 after buying an additional 65,631 shares during the period. Eagle Asset Management Inc. bought a new stake in United Rentals during the second quarter valued at $15,205,000. Aviva PLC increased its stake in United Rentals by 0.6% in the first quarter. Aviva PLC now owns 41,448 shares of the company’s stock valued at $2,578,000 after buying an additional 264 shares during the period. Finally, Coastland Capital LLC bought a new stake in United Rentals during the first quarter valued at $4,353,000. 91.02% of the stock is owned by institutional investors and hedge funds.
United Rentals Inc. (NYSE:URI) traded up 0.98% during mid-day trading on Tuesday, hitting $76.44. 1,767,529 shares of the stock traded hands. United Rentals Inc. has a 1-year low of $41.90 and a 1-year high of $84.63. The company’s 50 day moving average price is $78.93 and its 200-day moving average price is $71.63. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 11.53 and a beta of 2.61.
United Rentals (NYSE:URI) last issued 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. The company earned $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. United Rentals had a net margin of 10.51% and a return on equity of 50.82%. United Rentals’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.95 EPS. Analysts predict that United Rentals Inc. will post $8.08 earnings per share for the current year.
Several research firms have weighed in on URI. Jefferies Group set a $80.00 price target on shares of United Rentals and gave the company a “buy” rating in a research note on Thursday, July 21st. RBC Capital Markets reaffirmed a “hold” rating and issued a $80.00 price target (up from $68.00) on shares of United Rentals in a research note on Friday, July 22nd. Royal Bank Of Canada lifted their price target on shares of United Rentals from $68.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, July 22nd. Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research note on Wednesday, July 27th. Finally, Barclays PLC lifted their price target on shares of United Rentals from $81.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 12th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $75.74.
In related news, VP Jessica Graziano sold 877 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $76.34, for a total transaction of $66,950.18. Following the sale, the vice president now directly owns 7,127 shares of the company’s stock, valued at approximately $544,075.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Kneeland sold 20,000 shares of the stock in a transaction dated Friday, July 22nd. The shares were 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 in the company, valued at $29,560,353.15. The disclosure for this sale can be found here. Corporate 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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