Martingale Asset Management L P lowered its stake in United Rentals, Inc. (NYSE:URI) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,700 shares of the construction company’s stock after selling 9 shares during the quarter. Martingale Asset Management L P’s holdings in United Rentals were worth $2,559,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Manhattan Co. lifted 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 buying an additional 967 shares during the last quarter. Huntington National Bank lifted 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 buying an additional 179 shares during the last quarter. IFP Advisors Inc lifted 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 buying an additional 478 shares during the last quarter. Pacer Advisors Inc. lifted 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 buying an additional 145 shares during the last quarter. Finally, Investment Centers of America Inc. acquired a new position in United Rentals in the first quarter valued at about $203,000. 93.66% of the stock is currently owned by institutional investors.
Shares of United Rentals, Inc. (NYSE:URI) opened at 129.43 on Tuesday. United Rentals, Inc. has a 1-year low of $70.58 and a 1-year high of $134.28. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 18.80 and a beta of 2.42. The company’s 50 day moving average is $117.24 and its 200-day moving average is $115.66.
United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.28 by $0.09. The firm 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 revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.06 EPS. Equities analysts anticipate that United Rentals, Inc. will post $9.91 earnings per share for the current fiscal year.
In related news, insider Michael Kneeland sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the transaction, the insider now directly owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William B. Plummer sold 5,301 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $128.26, for a total value of $679,906.26. Following the transaction, the chief financial officer now directly owns 38,055 shares in the company, valued at $4,880,934.30. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
URI has been the topic of several research reports. Axiom Securities reissued a “sell” rating on shares of United Rentals in a research report on Tuesday, June 6th. BidaskClub cut shares of United Rentals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research cut shares of United Rentals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. ValuEngine raised shares of United Rentals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, Bank of America Corporation reissued a “buy” rating and set a $145.00 price target (up previously from $130.00) on shares of United Rentals in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. United Rentals has a consensus rating of “Buy” and an average target price of $126.97.
About United Rentals
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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