Wells Fargo & Company MN raised its holdings in shares of United Rentals, Inc. (NYSE:URI) by 37.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 278,861 shares of the construction company’s stock after purchasing an additional 76,144 shares during the period. Wells Fargo & Company MN owned 0.33% of United Rentals worth $38,689,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of URI. Iberiabank Corp boosted its holdings in shares of United Rentals by 20.7% in the 3rd quarter. Iberiabank Corp now owns 12,333 shares of the construction company’s stock valued at $1,711,000 after buying an additional 2,118 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of United Rentals by 113.4% in the 3rd quarter. Schroder Investment Management Group now owns 41,214 shares of the construction company’s stock valued at $5,686,000 after buying an additional 21,899 shares in the last quarter. SG Capital Management LLC boosted its holdings in shares of United Rentals by 8.9% in the 3rd quarter. SG Capital Management LLC now owns 154,064 shares of the construction company’s stock valued at $21,375,000 after buying an additional 12,588 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of United Rentals by 9.5% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,873 shares of the construction company’s stock valued at $954,000 after buying an additional 594 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of United Rentals in the 3rd quarter valued at about $202,000. 91.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of United Rentals, Inc. (URI) traded down $0.17 during midday trading on Wednesday, reaching $163.65. 832,300 shares of the company’s stock traded hands, compared to its average volume of 1,558,694. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.88 and a current ratio of 0.92. United Rentals, Inc. has a twelve month low of $100.62 and a twelve month high of $165.85. The firm has a market cap of $13,855.01, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.84 and a beta of 2.67.
United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 18th. The construction company reported $3.25 EPS for the quarter, beating the consensus estimate of $2.98 by $0.27. United Rentals had a net margin of 9.64% and a return on equity of 44.81%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business posted $2.58 EPS. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. sell-side analysts forecast that United Rentals, Inc. will post 10.56 earnings per share for the current fiscal year.
United Rentals announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 18th that allows the company to buyback $373.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other United Rentals news, Director Donald C. Roof sold 757 shares of United Rentals stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $159.80, for a total transaction of $120,968.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William B. Plummer sold 5,301 shares of United Rentals stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $128.26, for a total transaction of $679,906.26. Following the sale, the chief financial officer now owns 38,055 shares of the company’s stock, valued at $4,880,934.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,440 shares of company stock valued at $10,055,421. Company insiders own 1.20% of the company’s stock.
URI has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Jefferies Group restated a “buy” rating and issued a $150.00 price target on shares of United Rentals in a report on Tuesday, September 5th. Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Wednesday, September 20th. Bank of America set a $165.00 target price on shares of United Rentals and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, Citigroup lifted their target price on shares of United Rentals from $142.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $151.11.
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United Rentals Profile
United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.
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