State Board of Administration of Florida Retirement System decreased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,770 shares of the construction company’s stock after selling 4,771 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of United Rentals worth $17,795,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC increased its stake in shares of United Rentals by 131.1% during the second quarter. Janus Henderson Group PLC now owns 995,741 shares of the construction company’s stock valued at $146,992,000 after purchasing an additional 564,954 shares in the last quarter. Morgan Stanley increased its stake in shares of United Rentals by 21.6% during the second quarter. Morgan Stanley now owns 755,594 shares of the construction company’s stock valued at $111,539,000 after purchasing an additional 134,101 shares in the last quarter. Bank of Montreal Can bought a new position in shares of United Rentals during the second quarter valued at approximately $111,154,000. Dimensional Fund Advisors LP increased its stake in shares of United Rentals by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 732,477 shares of the construction company’s stock valued at $108,130,000 after purchasing an additional 8,936 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of United Rentals by 28.7% during the second quarter. American Century Companies Inc. now owns 675,326 shares of the construction company’s stock valued at $99,692,000 after purchasing an additional 150,738 shares in the last quarter. 87.61% of the stock is owned by institutional investors and hedge funds.
Shares of URI opened at $126.67 on Friday. The company has a market cap of $10.65 billion, a P/E ratio of 11.96, a PEG ratio of 0.46 and a beta of 2.61. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 2.75. United Rentals, Inc. has a twelve month low of $106.48 and a twelve month high of $190.74.
United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 17th. The construction company reported $4.74 earnings per share 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 the consensus estimate of $2.03 billion. United Rentals had a net margin of 21.96% and a return on equity of 39.46%. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.25 earnings per share. On average, sell-side analysts anticipate that United Rentals, Inc. will post 16.17 EPS for the current fiscal year.
In related news, Director Jenne K. Britell bought 435 shares of the business’s stock in a transaction on Monday, October 22nd. The stock was acquired at an average price of $115.07 per share, with a total value of $50,055.45. Following the transaction, the director now owns 27,497 shares in the company, valued at approximately $3,164,079.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donald C. Roof sold 5,000 shares of United Rentals stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $167.78, for a total transaction of $838,900.00. Following the completion of the sale, the director now directly owns 12,564 shares of the company’s stock, valued at approximately $2,107,987.92. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
A number of brokerages have weighed in on URI. Bank of America set a $175.00 target price on shares of United Rentals and gave the company a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a research note on Tuesday, July 31st. Standpoint Research started coverage on shares of United Rentals in a research note on Tuesday, October 23rd. They set a “buy” rating and a $140.00 target price for the company. Citigroup reduced their price target on shares of United Rentals from $200.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Finally, Argus raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $169.92.
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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