Eagle Asset Management Inc. Sells 1,625 Shares of United Rentals Inc. (URI)
Eagle Asset Management Inc. lowered its stake in United Rentals Inc. (NYSE:URI) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 224,981 shares of the company’s stock after selling 1,625 shares during the period. Eagle Asset Management Inc. owned about 0.26% of United Rentals worth $17,658,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of United Rentals during the second quarter valued at about $121,012,000. Calamos Advisors LLC acquired a new stake in shares of United Rentals during the second quarter valued at about $36,853,000. Dimensional Fund Advisors LP boosted its stake in shares of United Rentals by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,131,681 shares of the company’s stock valued at $143,022,000 after buying an additional 427,970 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of United Rentals by 5,876.5% in the second quarter. Teacher Retirement System of Texas now owns 302,111 shares of the company’s stock valued at $20,272,000 after buying an additional 297,056 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of United Rentals by 163.4% in the second quarter. American Century Companies Inc. now owns 459,529 shares of the company’s stock valued at $30,834,000 after buying an additional 285,051 shares during the period. 92.61% of the stock is currently owned by institutional investors.
United Rentals Inc. (NYSE:URI) traded up 0.47% during mid-day trading on Tuesday, hitting $96.64. 669,327 shares of the company were exchanged. The firm has a 50 day moving average price of $82.59 and a 200 day moving average price of $76.16. United Rentals Inc. has a 12 month low of $41.90 and a 12 month high of $98.12. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 14.91 and a beta of 2.41.
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. Analysts anticipate that United Rentals Inc. will post $8.29 EPS for the current fiscal year.
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Several research analysts have recently weighed in on the stock. Goldman Sachs Group Inc. raised shares of United Rentals from a “sell” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $90.00 in a research report on Thursday, November 10th. Macquarie assumed coverage on shares of United Rentals in a research report on Thursday, August 25th. They set an “underperform” rating and a $92.00 price target on the stock. Bank of America Corp. raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a research report on Thursday, August 18th. Morgan Stanley cut shares of United Rentals from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $85.00 to $81.00 in a research report on Monday, October 24th. Finally, OTR Global raised shares of United Rentals from a “mixed” rating to a “positive” rating in a research report on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $79.64.
In other United Rentals news, insider William B. Plummer sold 24,788 shares of United Rentals stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $86.24, for a total transaction of $2,137,717.12. Following the sale, the insider now directly owns 36,482 shares in the company, valued at approximately $3,146,207.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William B. Plummer sold 15,811 shares of United Rentals stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $78.74, for a total value of $1,244,958.14. Following the sale, the chief financial officer now owns 73,209 shares in the company, 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.
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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