Boston Private Wealth LLC Purchases 40,708 Shares of United Rentals Inc. (URI)
Boston Private Wealth LLC increased its stake in shares of United Rentals Inc. (NYSE:URI) by 24.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 206,715 shares of the company’s stock after buying an additional 40,708 shares during the period. Boston Private Wealth LLC owned approximately 0.24% of United Rentals worth $13,871,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Invictus RG boosted its position in shares of United Rentals by 2,900.0% in the first quarter. Invictus RG now owns 2,040 shares of the company’s stock valued at $127,000 after buying an additional 1,972 shares during the period. Huntington National Bank boosted its position in shares of United Rentals by 66.6% in the second quarter. Huntington National Bank now owns 2,308 shares of the company’s stock valued at $155,000 after buying an additional 923 shares during the period. Integrated Investment Consultants LLC bought a new position in shares of United Rentals during the second quarter valued at approximately $181,000. Euclid Advisors LLC bought a new position in shares of United Rentals during the first quarter valued at approximately $221,000. Finally, National Planning Corp bought a new position in shares of United Rentals during the first quarter valued at approximately $227,000. 91.02% of the stock is owned by hedge funds and other institutional investors.
Shares of United Rentals Inc. (NYSE:URI) traded up 0.12% during midday trading on Wednesday, hitting $76.53. The company’s stock had a trading volume of 950,417 shares. The stock’s 50 day moving average is $78.75 and its 200-day moving average is $71.74. The firm has a market cap of $6.59 billion, a P/E ratio of 11.54 and a beta of 2.61. United Rentals Inc. has a 52-week low of $41.90 and a 52-week high of $84.63.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $2.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.24. The company earned $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. United Rentals had a return on equity of 50.82% and a net margin of 10.51%. United Rentals’s revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $1.95 earnings per share. Equities analysts predict that United Rentals Inc. will post $8.08 EPS for the current fiscal year.
Several research analysts recently commented on URI shares. Argus started coverage on United Rentals in a research report on Tuesday, October 4th. They set a “buy” rating and a $90.00 price target for the company. Jefferies Group set a $80.00 price target on United Rentals and gave the company a “buy” rating in a research report on Thursday, July 21st. Morgan Stanley reissued a “buy” rating on shares of United Rentals in a research report on Tuesday, June 28th. Zacks Investment Research cut United Rentals from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Finally, Deutsche Bank AG started coverage on United Rentals in a research note on Tuesday, September 6th. They issued a “hold” rating and a $79.00 price objective on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine 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 an average price target of $77.79.
In other United Rentals news, COO Matthew John Flannery sold 15,046 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $78.12, for a total transaction of $1,175,393.52. Following the completion of the transaction, the chief operating officer now directly owns 23,663 shares of the company’s stock, valued at $1,848,553.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO William B. Plummer sold 15,811 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $78.74, for a total value of $1,244,958.14. Following the transaction, the chief financial officer now directly owns 73,209 shares of the company’s stock, valued at $5,764,476.66. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
United Rentals Company Profile
United Rentals, Inc is a holding company engaged in the business of equipment rental. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc (URNA) and subsidiaries of URNA. It operates through two segments: general rentals, and trench, power and pump. The general rentals includes 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, general tools and light equipment, such as pressure washers, water pumps and power tools.
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