Russell Investments Group Ltd. Increases Holdings in United Rentals, Inc. (URI)

Russell Investments Group Ltd. raised its position in shares of United Rentals, Inc. (NYSE:URI) by 111.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,409 shares of the construction company’s stock after buying an additional 49,137 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of United Rentals worth $15,491,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in United Rentals by 31.9% during the second quarter. Wells Fargo & Company MN now owns 318,697 shares of the construction company’s stock valued at $47,046,000 after buying an additional 77,055 shares in the last quarter. Nvwm LLC raised its stake in United Rentals by 1,744.7% during the second quarter. Nvwm LLC now owns 2,269 shares of the construction company’s stock valued at $335,000 after buying an additional 2,146 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in United Rentals by 116.8% during the second quarter. Canada Pension Plan Investment Board now owns 43,376 shares of the construction company’s stock valued at $6,403,000 after buying an additional 23,366 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in United Rentals during the second quarter valued at approximately $9,294,000. Finally, Smith Asset Management Group LP raised its stake in United Rentals by 4.2% during the second quarter. Smith Asset Management Group LP now owns 224,295 shares of the construction company’s stock valued at $33,110,000 after buying an additional 9,140 shares in the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.

In other United Rentals news, Director Jenne K. Britell acquired 435 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The stock was acquired at an average cost of $115.07 per share, with a total value of $50,055.45. Following the acquisition, the director now directly owns 27,497 shares of the company’s stock, valued at approximately $3,164,079.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Donald C. Roof sold 5,000 shares of the stock in a transaction that occurred 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. 1.00% of the stock is currently owned by corporate insiders.

URI has been the topic of several research reports. ValuEngine cut United Rentals from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Zacks Investment Research raised United Rentals from a “hold” rating to a “buy” rating and set a $189.00 target price for the company in a report on Tuesday, September 18th. UBS Group set a $196.00 target price on United Rentals and gave the company a “buy” rating in a report on Tuesday, August 14th. Bank of America set a $200.00 target price on United Rentals and gave the company a “buy” rating in a report on Thursday, September 13th. Finally, Deutsche Bank set a $158.00 target price on United Rentals and gave the company a “hold” rating in a report on Wednesday, September 5th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $169.92.

NYSE:URI opened at $126.67 on Friday. The company has a market cap of $10.65 billion, a PE ratio of 8.87, a P/E/G ratio of 0.46 and a beta of 2.61. United Rentals, Inc. has a 52 week low of $106.48 and a 52 week high of $190.74. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.81 and a quick ratio of 0.76.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 17th. The construction company reported $4.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.56 by $0.18. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.03 billion. United Rentals had a return on equity of 39.46% and a net margin of 21.96%. The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.25 earnings per share. Equities research analysts anticipate that United Rentals, Inc. will post 16.17 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Russell Investments Group Ltd. Increases Holdings in United Rentals, Inc. (URI)” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/11/10/russell-investments-group-ltd-increases-holdings-in-united-rentals-inc-uri.html.

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.

Read More: Book Value Per Share in Stock Trading

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI).

Institutional Ownership by Quarter for United Rentals (NYSE:URI)

Receive News & Ratings for United Rentals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Rentals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply