Marshall Wace North America L.P. Sells 10,296 Shares of United Rentals, Inc. (URI)
Marshall Wace North America L.P. reduced its position in United Rentals, Inc. (NYSE:URI) by 61.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,568 shares of the construction company’s stock after selling 10,296 shares during the period. Marshall Wace North America L.P.’s holdings in United Rentals were worth $742,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BB&T Securities LLC bought a new position in shares of United Rentals in the 2nd quarter worth $1,135,000. Blair William & Co. IL lifted its holdings in shares of United Rentals by 66.0% in the 2nd quarter. Blair William & Co. IL now owns 4,276 shares of the construction company’s stock worth $482,000 after purchasing an additional 1,700 shares in the last quarter. KBC Group NV lifted its holdings in shares of United Rentals by 13.1% in the 2nd quarter. KBC Group NV now owns 21,366 shares of the construction company’s stock worth $2,408,000 after purchasing an additional 2,472 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of United Rentals in the 2nd quarter worth $243,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of United Rentals by 1.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 30,240 shares of the construction company’s stock worth $3,408,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 93.72% of the company’s stock.
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In other news, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the transaction, the insider now directly owns 302,292 shares of the company’s stock, valued at $36,507,804.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.
A number of brokerages recently issued reports on URI. Axiom Securities reiterated a “sell” rating on shares of United Rentals in a report on Tuesday, June 6th. BidaskClub cut United Rentals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Zacks Investment Research cut United Rentals from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. ValuEngine upgraded United Rentals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $145.00 target price (up 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 issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $126.97.
Shares of United Rentals, Inc. (NYSE:URI) opened at 125.03 on Tuesday. United Rentals, Inc. has a 12 month low of $70.58 and a 12 month high of $134.28. The stock has a market capitalization of $10.57 billion, a price-to-earnings ratio of 18.16 and a beta of 2.42. The stock’s 50 day moving average price is $115.80 and its 200 day moving average price is $115.60.
United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.09. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.06 earnings per share. Analysts expect that United Rentals, Inc. will post $9.91 EPS for the current year.
About United Rentals
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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