Parametrica Management Ltd acquired a new stake in United Rentals (NYSE:URI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,202 shares of the construction company’s stock, valued at approximately $208,000.
A number of other large investors have also added to or reduced their stakes in URI. DnB Asset Management AS raised its stake in United Rentals by 12.4% in the fourth quarter. DnB Asset Management AS now owns 11,800 shares of the construction company’s stock valued at $2,029,000 after buying an additional 1,300 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of United Rentals by 27.3% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,220 shares of the construction company’s stock worth $382,000 after purchasing an additional 476 shares during the period. Atria Investments LLC bought a new position in shares of United Rentals during the fourth quarter worth approximately $246,000. YHB Investment Advisors Inc. increased its stake in shares of United Rentals by 3.8% during the fourth quarter. YHB Investment Advisors Inc. now owns 16,876 shares of the construction company’s stock worth $2,901,000 after purchasing an additional 625 shares during the period. Finally, National Pension Service increased its stake in shares of United Rentals by 3.0% during the fourth quarter. National Pension Service now owns 101,129 shares of the construction company’s stock worth $17,385,000 after purchasing an additional 2,921 shares during the period. Hedge funds and other institutional investors own 90.35% of the company’s stock.
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URI has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on United Rentals from $171.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Morgan Stanley initiated coverage on United Rentals in a research note on Friday, March 2nd. They set an “overweight” rating and a $194.00 target price on the stock. ValuEngine lowered United Rentals from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Royal Bank of Canada reiterated a “buy” rating and set a $194.00 target price on shares of United Rentals in a research note on Thursday, January 11th. Finally, Jefferies Group reiterated a “buy” rating and set a $210.00 target price on shares of United Rentals in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $188.64.
In related news, EVP Dale A. Asplund sold 1,229 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $188.13, for a total transaction of $231,211.77. Following the sale, the executive vice president now owns 16,116 shares of the company’s stock, valued at $3,031,903.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Kneeland sold 30,000 shares of the stock in a transaction that occurred on Friday, April 20th. The stock was sold at an average price of $169.00, for a total value of $5,070,000.00. Following the sale, the chief executive officer now directly owns 249,925 shares in the company, valued at approximately $42,237,325. The disclosure for this sale can be found here. Insiders have sold 82,864 shares of company stock worth $14,991,556 in the last three months. 1.00% of the stock is currently owned by company insiders.
Shares of NYSE:URI opened at $166.36 on Friday. The stock has a market capitalization of $13.32 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.55 and a beta of 2.56. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.92 and a current ratio of 0.97.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 18th. The construction company reported $2.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.53. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.68 billion. United Rentals had a return on equity of 39.19% and a net margin of 20.23%. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 earnings per share. analysts forecast that United Rentals will post 15.72 EPS for the current fiscal year.
United Rentals announced that its Board of Directors has initiated a share buyback program on Wednesday, April 18th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 9.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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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