Cetera Investment Advisers Invests $382,000 in United Rentals, Inc. (URI) Stock
Cetera Investment Advisers bought a new stake in shares of United Rentals, Inc. (NYSE:URI) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,407 shares of the construction company’s stock, valued at approximately $382,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in United Rentals during the second quarter valued at $364,000. Colony Group LLC acquired a new position in United Rentals during the second quarter valued at $220,000. Kalos Management Inc. lifted its position in United Rentals by 2.4% during the second quarter. Kalos Management Inc. now owns 4,610 shares of the construction company’s stock valued at $519,000 after purchasing an additional 108 shares during the period. Westwood Holdings Group Inc. acquired a new position in United Rentals during the second quarter valued at $633,000. Finally, Nomura Holdings Inc. acquired a new position in United Rentals during the second quarter valued at $1,211,000. Institutional investors own 93.66% of the company’s stock.
In related news, CFO William B. Plummer sold 5,301 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the completion of the sale, the chief financial officer now owns 38,055 shares in the company, valued at $4,880,934.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.
A number of research analysts recently issued reports on URI shares. UBS AG restated a “neutral” rating and set a $125.00 target price on shares of United Rentals in a research report on Sunday, August 20th. ValuEngine upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and set a $150.00 target price on shares of United Rentals in a research report on Tuesday, September 5th. Deutsche Bank AG boosted their target price on shares of United Rentals from $121.00 to $130.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. United Rentals has a consensus rating of “Buy” and an average price target of $140.37.
United Rentals, Inc. (NYSE URI) traded up 0.12% during mid-day trading on Friday, hitting $144.57. 203,150 shares of the stock were exchanged. The company has a market cap of $12.22 billion, a P/E ratio of 21.00 and a beta of 2.46. The company has a 50-day moving average price of $134.17 and a 200-day moving average price of $118.29. United Rentals, Inc. has a one year low of $70.58 and a one year high of $147.60.
United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 18th. The construction company reported $3.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.27. United Rentals had a net margin of 9.64% and a return on equity of 47.50%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business earned $2.58 earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Analysts forecast that United Rentals, Inc. will post $10.09 earnings per share for the current fiscal year.
United Rentals announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 18th that authorizes the company to repurchase $373.00 million in shares. This repurchase authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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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