United Rentals, Inc. (URI) Director Sells $473,837.92 in Stock
United Rentals, Inc. (NYSE:URI) Director Filippo Passerini sold 3,308 shares of United Rentals stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $143.24, for a total value of $473,837.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
United Rentals, Inc. (URI) traded down 2.02% on Monday, hitting $141.48. The stock had a trading volume of 1,372,425 shares. United Rentals, Inc. has a 52-week low of $70.58 and a 52-week high of $147.60. The company has a market cap of $11.96 billion, a P/E ratio of 20.55 and a beta of 2.46. The firm’s 50-day moving average is $134.92 and its 200-day moving average is $118.43.
United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 18th. The construction company reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.27. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $2.58 earnings per share. Equities research analysts anticipate that United Rentals, Inc. will post $10.22 earnings per share for the current fiscal year.
United Rentals announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 18th that authorizes the company to repurchase $373.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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Several hedge funds and other institutional investors have recently made changes to their positions in URI. First Manhattan Co. raised its stake in shares of United Rentals by 4,204.3% in the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after acquiring an additional 967 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in United Rentals in the second quarter valued at $151,000. Huntington National Bank raised its stake in United Rentals by 14.2% in the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock valued at $163,000 after buying an additional 179 shares in the last quarter. IFP Advisors Inc raised its stake in United Rentals by 40.4% in the second quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock valued at $187,000 after buying an additional 478 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in United Rentals by 8.8% in the second quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 93.66% of the company’s stock.
A number of brokerages have recently commented on URI. BidaskClub cut United Rentals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Zacks Investment Research cut United Rentals from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Bank of America Corporation reiterated a “buy” rating and issued a $145.00 target price (up previously from $130.00) on shares of United Rentals in a report on Thursday, July 20th. Axiom Securities reiterated a “sell” rating on shares of United Rentals in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada upgraded United Rentals from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $128.00 to $138.00 in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $140.70.
About United Rentals
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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