PNC Financial Services Group Inc. raised its position in United Rentals, Inc. (NYSE:URI) by 282.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 570,236 shares of the construction company’s stock after acquiring an additional 421,101 shares during the quarter. PNC Financial Services Group Inc. owned 0.67% of United Rentals worth $64,272,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. First Manhattan Co. grew its position in United Rentals by 4,204.3% in the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after acquiring an additional 967 shares in the last quarter. Huntington National Bank grew its position in United Rentals by 14.2% in the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock valued at $163,000 after acquiring an additional 179 shares in the last quarter. IFP Advisors Inc grew its position in United Rentals by 40.4% in the second quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock valued at $187,000 after acquiring an additional 478 shares in the last quarter. Pacer Advisors Inc. grew its position in United Rentals by 8.8% in the second quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after acquiring an additional 145 shares in the last quarter. Finally, Investment Centers of America Inc. acquired a new stake in United Rentals in the first quarter valued at approximately $203,000. 93.72% of the stock is owned by institutional investors.
United Rentals, Inc. (NYSE URI) traded up 0.58% during midday trading on Friday, reaching $128.10. The company’s stock had a trading volume of 1,119,491 shares. The firm has a 50 day moving average price of $116.96 and a 200 day moving average price of $115.87. The firm has a market capitalization of $10.83 billion, a PE ratio of 18.61 and a beta of 2.42. United Rentals, Inc. has a 1-year low of $70.58 and a 1-year high of $134.28.
United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.09. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. United Rentals’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 EPS. On average, analysts predict that United Rentals, Inc. will post $9.91 EPS for the current year.
In related news, insider Michael Kneeland sold 30,000 shares of the business’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $120.77, for a total value of $3,623,100.00. Following the sale, the insider now owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO William B. Plummer sold 5,301 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the completion of the sale, the chief financial officer now directly owns 38,055 shares in the company, valued at approximately $4,880,934.30. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
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Several equities analysts have recently commented on the company. BidaskClub upgraded United Rentals from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Jefferies Group LLC reiterated a “buy” rating and set a $150.00 target price on shares of United Rentals in a research note on Friday, June 9th. ValuEngine cut United Rentals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 20th. Bank of America Corporation reiterated a “buy” rating and set a $145.00 target price (up from $130.00) on shares of United Rentals in a research note on Thursday, July 20th. Finally, Citigroup Inc. increased their target price on United Rentals from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $126.97.
United Rentals Company Profile
United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.
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