Advisors Asset Management Inc. reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 28.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,644 shares of the construction company’s stock after selling 11,595 shares during the period. Advisors Asset Management Inc.’s holdings in United Rentals were worth $4,942,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Benson Investment Management Company Inc. purchased a new position in United Rentals in the fourth quarter valued at approximately $2,999,000. AustralianSuper Pty Ltd raised its holdings in United Rentals by 14.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 33,091 shares of the construction company’s stock valued at $5,519,000 after buying an additional 4,079 shares during the period. Carnegie Capital Asset Management LLC raised its holdings in United Rentals by 129.8% in the third quarter. Carnegie Capital Asset Management LLC now owns 10,800 shares of the construction company’s stock valued at $1,346,000 after buying an additional 6,100 shares during the period. Americana Partners LLC purchased a new position in United Rentals in the fourth quarter valued at approximately $53,000. Finally, Janney Montgomery Scott LLC raised its holdings in United Rentals by 229.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 37,598 shares of the construction company’s stock valued at $6,270,000 after buying an additional 26,196 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.
In related news, Director Shiv Singh acquired 600 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $88.53 per share, for a total transaction of $53,118.00. Following the completion of the purchase, the director now directly owns 4,523 shares in the company, valued at $400,421.19. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by insiders.
Shares of NYSE URI opened at $93.19 on Thursday. United Rentals, Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $170.04. The firm’s 50-day simple moving average is $123.14 and its 200 day simple moving average is $139.42. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 2.72. The stock has a market cap of $5.25 billion, a P/E ratio of 6.13, a P/E/G ratio of 0.30 and a beta of 2.44.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 29th. The construction company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.22 by $0.38. United Rentals had a net margin of 12.56% and a return on equity of 42.34%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the business earned $4.85 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that United Rentals, Inc. will post 19.8 earnings per share for the current fiscal year.
Several research analysts recently commented on URI shares. Morgan Stanley cut their price target on shares of United Rentals from $193.00 to $154.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Deutsche Bank lifted their price objective on shares of United Rentals from $111.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. ValuEngine upgraded shares of United Rentals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, February 25th. Citigroup dropped their price objective on shares of United Rentals from $160.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Finally, Goldman Sachs Group decreased their price target on shares of United Rentals from $200.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $142.00.
About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including 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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