United Rentals Inc. (URI) Bond Prices Fall 2.3%
An issue of United Rentals Inc. (NYSE:URI) bonds fell 2.3% as a percentage of their face value during trading on Monday. The debt issue has a 5.5% coupon and will mature on May 15, 2027. The bonds in the issue are now trading at $99.25 and were trading at $98.00 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
URI has been the topic of a number of recent research reports. Goldman Sachs Group Inc. upgraded shares of United Rentals from a “sell” rating to a “neutral” rating and upped their target price for the stock from $66.00 to $90.00 in a research note on Thursday, November 10th. Macquarie initiated coverage on shares of United Rentals in a research note on Thursday, August 25th. They set an “underperform” rating and a $92.00 target price on the stock. Bank of America Corp. upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 target price on the stock in a research note on Thursday, August 18th. Morgan Stanley lowered shares of United Rentals from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $85.00 to $81.00 in a research note on Monday, October 24th. Finally, OTR Global upgraded shares of United Rentals from a “mixed” rating to a “positive” rating in a research note on Friday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $79.64.
United Rentals Inc. (NYSE:URI) traded up 3.20% during midday trading on Monday, reaching $93.86. The company’s stock had a trading volume of 2,048,436 shares. United Rentals Inc. has a 1-year low of $41.90 and a 1-year high of $96.60. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 14.48 and a beta of 2.41. The company’s 50-day moving average price is $80.77 and its 200-day moving average price is $75.06.
United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.14. United Rentals had a return on equity of 48.98% and a net margin of 10.10%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $841 million. During the same period in the previous year, the business earned $2.57 EPS. United Rentals’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, analysts predict that United Rentals Inc. will post $8.29 earnings per share for the current fiscal year.
In other news, insider William B. Plummer sold 24,788 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $86.24, for a total value of $2,137,717.12. Following the completion of the sale, the insider now directly owns 36,482 shares in the company, valued at approximately $3,146,207.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Mcauley sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $81.09, for a total value of $324,360.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Acrospire Investment Management LLC increased its position in shares of United Rentals by 15.4% in the second quarter. Acrospire Investment Management LLC now owns 1,500 shares of the company’s stock worth $101,000 after buying an additional 200 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its position in shares of United Rentals by 91.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,532 shares of the company’s stock worth $103,000 after buying an additional 730 shares during the last quarter. Assetmark Inc. increased its position in shares of United Rentals by 25.5% in the third quarter. Assetmark Inc. now owns 1,340 shares of the company’s stock worth $105,000 after buying an additional 272 shares during the last quarter. WFG Advisors LP increased its position in shares of United Rentals by 4.6% in the second quarter. WFG Advisors LP now owns 1,735 shares of the company’s stock worth $116,000 after buying an additional 77 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. bought a new position in shares of United Rentals during the second quarter worth approximately $123,000. Institutional investors and hedge funds own 93.01% of the company’s stock.
About United Rentals
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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