Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lessened its position in United Rentals, Inc. (NYSE:URI) by 24.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 95,200 shares of the construction company’s stock after selling 30,100 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.12% of United Rentals worth $14,053,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in United Rentals by 5.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,282 shares of the construction company’s stock valued at $927,000 after acquiring an additional 349 shares during the period. HL Financial Services LLC boosted its position in shares of United Rentals by 1.2% during the second quarter. HL Financial Services LLC now owns 30,246 shares of the construction company’s stock valued at $4,465,000 after buying an additional 359 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of United Rentals by 7.6% during the second quarter. CENTRAL TRUST Co now owns 5,536 shares of the construction company’s stock valued at $817,000 after buying an additional 390 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of United Rentals by 22.6% during the first quarter. D.A. Davidson & CO. now owns 2,437 shares of the construction company’s stock valued at $421,000 after buying an additional 450 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its position in shares of United Rentals by 12.5% during the second quarter. Engineers Gate Manager LP now owns 4,100 shares of the construction company’s stock valued at $605,000 after buying an additional 454 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on URI shares. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $196.00 target price on the stock in a research report on Friday, June 22nd. Buckingham Research raised United Rentals from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Friday, July 13th. Zacks Investment Research cut United Rentals from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Bank of America set a $186.00 target price on United Rentals and gave the company a “buy” rating in a research report on Wednesday, July 18th. Finally, Deutsche Bank set a $158.00 price target on United Rentals and gave the stock a “hold” rating in a report on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. United Rentals currently has a consensus rating of “Buy” and an average target price of $185.45.
Shares of United Rentals stock opened at $166.85 on Friday. The firm has a market cap of $13.93 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 0.59 and a beta of 2.46. United Rentals, Inc. has a 12 month low of $126.79 and a 12 month high of $190.74. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.63 and a current ratio of 0.68.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 18th. The construction company reported $3.85 EPS for the quarter, topping the Zacks’ consensus estimate of $3.45 by $0.40. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. United Rentals had a return on equity of 39.28% and a net margin of 21.18%. United Rentals’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company posted $2.37 earnings per share. research analysts anticipate that United Rentals, Inc. will post 16.05 EPS for the current year.
In other United Rentals news, CEO Michael Kneeland sold 30,000 shares of the business’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $155.37, for a total value of $4,661,100.00. Following the sale, the chief executive officer now directly owns 219,925 shares in the company, valued at $34,169,747.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
United Rentals Company 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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