Old Mutual Global Investors UK Ltd. Has $9.90 Million Holdings in United Rentals, Inc. (URI)
Old Mutual Global Investors UK Ltd. trimmed its position in shares of United Rentals, Inc. (NYSE:URI) by 93.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,343 shares of the construction company’s stock after selling 1,107,266 shares during the quarter. Old Mutual Global Investors UK Ltd. owned 0.08% of United Rentals worth $9,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of URI. Capital One National Association boosted its holdings in United Rentals by 12.4% during the 2nd quarter. Capital One National Association now owns 3,045 shares of the construction company’s stock worth $343,000 after acquiring an additional 336 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of United Rentals during the 2nd quarter worth $346,000. Iberiabank Corp raised its stake in shares of United Rentals by 9.0% during the 2nd quarter. Iberiabank Corp now owns 10,215 shares of the construction company’s stock worth $1,151,000 after purchasing an additional 840 shares during the period. New England Research & Management Inc. raised its stake in shares of United Rentals by 22.6% during the 2nd quarter. New England Research & Management Inc. now owns 10,045 shares of the construction company’s stock worth $1,132,000 after purchasing an additional 1,850 shares during the period. Finally, Fulton Bank N.A. raised its stake in shares of United Rentals by 3.0% during the 2nd quarter. Fulton Bank N.A. now owns 9,369 shares of the construction company’s stock worth $1,056,000 after purchasing an additional 277 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.
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A number of research firms have recently commented on URI. Citigroup Inc. lifted their target price on United Rentals from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Axiom Securities reiterated a “sell” rating on shares of United Rentals in a research note on Wednesday, July 26th. Bank of America Corporation reiterated a “buy” rating and set a $145.00 target price (up from $130.00) on shares of United Rentals in a research note on Thursday, July 20th. BidaskClub upgraded United Rentals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus restated a “hold” rating on shares of United Rentals in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $144.97.
In other news, insider Michael Kneeland sold 30,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $144.72, for a total transaction of $4,341,600.00. Following the completion of the sale, the insider now owns 272,292 shares of the company’s stock, valued at $39,406,098.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO William B. Plummer sold 5,301 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the sale, the chief financial officer now directly owns 38,055 shares of the company’s stock, valued at approximately $4,880,934.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,109 shares of company stock valued at $6,143,119. 1.20% of the stock is owned by insiders.
Shares of United Rentals, Inc. (NYSE:URI) opened at $147.55 on Wednesday. The stock has a market capitalization of $12,550.87, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 0.90 and a beta of 2.65. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.92 and a quick ratio of 0.88. United Rentals, Inc. has a 52 week low of $74.24 and a 52 week high of $149.45.
United Rentals (NYSE:URI) last issued its earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.27. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.72 billion. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. United Rentals’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 earnings per share. equities analysts expect that United Rentals, Inc. will post 10.49 EPS for the current year.
United Rentals announced that its board has authorized a share repurchase plan on Wednesday, October 18th that authorizes the company to buyback $373.00 million in shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
United Rentals 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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