Mirae Asset Global Investments Co. Ltd. grew its stake in United Rentals, Inc. (NYSE:URI) by 515.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,713 shares of the construction company’s stock after buying an additional 20,698 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in United Rentals were worth $4,044,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in United Rentals by 103.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 984 shares of the construction company’s stock worth $161,000 after buying an additional 500 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in United Rentals by 93.0% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,245 shares of the construction company’s stock worth $184,000 after buying an additional 600 shares in the last quarter. Cerebellum GP LLC purchased a new position in United Rentals in the 3rd quarter worth approximately $187,000. Lincoln National Corp purchased a new position in United Rentals in the 3rd quarter worth approximately $200,000. Finally, Jag Capital Management LLC purchased a new position in United Rentals in the 3rd quarter worth approximately $203,000. 87.72% of the stock is owned by institutional investors and hedge funds.
In other news, Director Jose B. Alvarez purchased 544 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average cost of $107.45 per share, for a total transaction of $58,452.80. Following the acquisition, the director now directly owns 2,413 shares of the company’s stock, valued at approximately $259,276.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald C. Roof sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $167.78, for a total transaction of $838,900.00. Following the sale, the director now owns 12,564 shares of the company’s stock, valued at $2,107,987.92. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Shares of URI opened at $103.94 on Friday. The company has a market capitalization of $8.62 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 0.37 and a beta of 2.60. 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, Inc. has a fifty-two week low of $102.09 and a fifty-two week high of $190.74.
United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 17th. The construction company reported $4.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.56 by $0.18. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.03 billion. United Rentals had a net margin of 21.96% and a return on equity of 39.46%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.25 EPS. Equities research analysts expect that United Rentals, Inc. will post 16.23 earnings per share for the current year.
A number of equities analysts have commented on the stock. Bank of America set a $175.00 price target on shares of United Rentals and gave the stock a “buy” rating in a research note on Thursday, October 18th. Standpoint Research began coverage on shares of United Rentals in a report on Tuesday, October 23rd. They issued a “buy” rating and a $140.00 price objective for the company. Citigroup lowered their price objective on shares of United Rentals from $200.00 to $150.00 and set a “buy” rating for the company in a report on Friday, October 19th. Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a report on Tuesday, September 18th. Finally, UBS Group set a $180.00 price objective on shares of United Rentals and gave the stock a “buy” rating in a report on Thursday, November 15th. Three analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $165.69.
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United Rentals Profile
United Rentals, Inc is a holding company, which through its subsidiary, engages in the equipment rental business. It offers rent to construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities. The company operates through two business segments: General Rentals; and Trench, power and pump.
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