AMP Capital Investors Ltd boosted its position in shares of United Rentals, Inc. (NYSE:URI) by 23.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,780 shares of the construction company’s stock after purchasing an additional 9,571 shares during the period. AMP Capital Investors Ltd owned about 0.06% of United Rentals worth $7,496,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Flinton Capital Management LLC lifted its holdings in United Rentals by 2.1% during the 2nd quarter. Flinton Capital Management LLC now owns 102,928 shares of the construction company’s stock valued at $15,194,000 after purchasing an additional 2,100 shares during the last quarter. Laurion Capital Management LP bought a new position in United Rentals during the 2nd quarter valued at about $1,473,000. Glen Harbor Capital Management LLC lifted its holdings in United Rentals by 2.1% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 58,816 shares of the construction company’s stock valued at $8,682,000 after purchasing an additional 1,200 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in United Rentals during the 2nd quarter valued at about $10,429,000. Finally, Bridgewater Associates LP increased its position in United Rentals by 177.3% in the 2nd quarter. Bridgewater Associates LP now owns 85,662 shares of the construction company’s stock valued at $12,645,000 after acquiring an additional 54,774 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $155.37, for a total transaction of $4,661,100.00. Following the completion of the sale, the chief executive officer now owns 219,925 shares in the company, valued at approximately $34,169,747.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.
URI opened at $166.85 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 2.56. The stock has a market capitalization of $13.93 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 0.59 and a beta of 2.46. United Rentals, Inc. has a 1-year low of $126.79 and a 1-year high of $190.74.
United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, July 18th. The construction company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.40. United Rentals had a net margin of 21.18% and a return on equity of 39.28%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company posted $2.37 EPS. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. equities research analysts forecast that United Rentals, Inc. will post 16.05 EPS for the current year.
Several equities research analysts have weighed in on the stock. Bank of America set a $200.00 price objective on shares of United Rentals and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research cut shares of United Rentals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 19th. Deutsche Bank set a $158.00 price objective on shares of United Rentals and gave the company a “hold” rating in a research report on Wednesday, September 5th. UBS Group set a $196.00 price objective on shares of United Rentals and gave the company a “buy” rating in a research report on Friday, July 13th. Finally, Buckingham Research upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Friday, July 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $185.45.
United Rentals Profile
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power, and Pump. The General Rentals segment engages in 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; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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