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.
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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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