KAMES CAPITAL plc cut its position in shares of United Rentals, Inc. (NYSE:URI) by 37.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,749 shares of the construction company’s stock after selling 4,006 shares during the quarter. KAMES CAPITAL plc’s holdings in United Rentals were worth $1,104,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Atalanta Sosnoff Capital LLC acquired a new position in United Rentals during the third quarter worth $6,877,000. Hexavest Inc. raised its holdings in United Rentals by 88.3% during the third quarter. Hexavest Inc. now owns 382,766 shares of the construction company’s stock worth $62,621,000 after purchasing an additional 179,514 shares during the last quarter. DNB Asset Management AS raised its holdings in United Rentals by 2.3% during the third quarter. DNB Asset Management AS now owns 15,346 shares of the construction company’s stock worth $2,511,000 after purchasing an additional 346 shares during the last quarter. Cerebellum GP LLC acquired a new position in United Rentals during the third quarter worth $187,000. Finally, Atria Investments LLC raised its holdings in United Rentals by 127.2% during the third quarter. Atria Investments LLC now owns 5,165 shares of the construction company’s stock worth $845,000 after purchasing an additional 2,892 shares during the last quarter. 86.82% of the stock is owned by hedge funds and other institutional investors.
In other 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 completion of the transaction, the chief executive officer now directly owns 219,925 shares of the company’s stock, valued at $34,169,747.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Donald C. Roof sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $167.78, for a total value of $838,900.00. Following the completion of the transaction, the director now directly owns 12,564 shares of the company’s stock, valued at $2,107,987.92. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
URI has been the subject of several research reports. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $196.00 price objective for the company in a report on Friday, June 22nd. Buckingham Research raised United Rentals from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Friday, July 13th. ValuEngine cut United Rentals from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research cut United Rentals from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Finally, Bank of America set a $186.00 price objective on United Rentals and gave the stock a “buy” rating in a report on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $188.73.
NYSE URI opened at $137.88 on Friday. United Rentals, Inc. has a fifty-two week low of $135.68 and a fifty-two week high of $190.74. The firm has a market capitalization of $13.54 billion, a PE ratio of 13.02, a P/E/G ratio of 0.57 and a beta of 2.46. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 2.56.
United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 18th. The construction company reported $3.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.45 by $0.40. United Rentals had a return on equity of 39.28% and a net margin of 21.18%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm posted $2.37 earnings per share. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, research analysts predict that United Rentals, Inc. will post 16.1 earnings per share for the current fiscal year.
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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