CNA Financial Corp Invests $3.04 Million in United Rentals, Inc. (URI) Stock
CNA Financial Corp acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 27,000 shares of the construction company’s stock, valued at approximately $3,043,000.
Other institutional investors have also recently made changes to their positions in the company. First Manhattan Co. raised its position in United Rentals by 4,204.3% during the 2nd quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock worth $111,000 after buying an additional 967 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in United Rentals during the 1st quarter worth $127,000. Huntington National Bank raised its position in United Rentals by 14.2% during the 2nd quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock worth $163,000 after buying an additional 179 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in United Rentals during the 1st quarter worth $201,000. Finally, Investment Centers of America Inc. purchased a new position in United Rentals during the 1st quarter worth $203,000. Institutional investors own 93.72% of the company’s stock.
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United Rentals, Inc. (URI) traded down 1.906% during midday trading on Monday, hitting $124.275. 922,682 shares of the company traded hands. The company has a market cap of $10.51 billion, a PE ratio of 18.053 and a beta of 2.42. The stock has a 50 day moving average price of $115.80 and a 200-day moving average price of $115.64. United Rentals, Inc. has a 12-month low of $70.58 and a 12-month high of $134.28.
United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.09. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 EPS. Analysts expect that United Rentals, Inc. will post $9.91 EPS for the current year.
URI has been the subject of a number of research analyst reports. ValuEngine upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Citigroup Inc. increased their price target on shares of United Rentals from $130.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 21st. Axiom Securities reiterated a “sell” rating on shares of United Rentals in a report on Wednesday, July 26th. Stifel Nicolaus reiterated a “hold” rating on shares of United Rentals in a report on Friday, July 21st. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $145.00 price target (up previously from $130.00) on shares of United Rentals in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $126.97.
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 value of $3,623,100.00. Following the completion of the sale, the insider now owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.
United Rentals Company Profile
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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