United Rentals, Inc. (URI) Debt Trading 1.9% Lower
An issue of United Rentals, Inc. (NYSE:URI) debt fell 1.9% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 5.75% coupon and is set to mature on November 15, 2024. The debt is now trading at $107.00 and was trading at $107.28 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price.
Several equities research analysts have issued reports on URI shares. UBS AG reissued a “neutral” rating and issued a $125.00 price target on shares of United Rentals in a report on Sunday, August 20th. ValuEngine raised shares of United Rentals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of United Rentals in a report on Tuesday. Deutsche Bank AG upped their target price on shares of United Rentals from $121.00 to $130.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada raised shares of United Rentals from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $128.00 to $138.00 in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have assigned 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) traded up 2.92% during trading on Friday, hitting $126.69. 2,616,453 shares of the stock traded hands. United Rentals, Inc. has a 52 week low of $70.58 and a 52 week high of $134.28. The company has a 50-day moving average of $115.78 and a 200-day moving average of $115.74. The firm has a market cap of $10.71 billion, a P/E ratio of 18.40 and a beta of 2.42.
United Rentals (NYSE:URI) last released its quarterly earnings data 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 firm had revenue of $1.60 billion during 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 quarter in the previous year, the company posted $2.06 earnings per share. On average, analysts forecast that United Rentals, Inc. will post $9.91 EPS for the current fiscal year.
In related 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 completion of the sale, the insider now owns 302,292 shares in the company, valued at $36,507,804.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in URI. BlackRock Inc. grew its holdings in United Rentals by 3,269.9% during the first quarter. BlackRock Inc. now owns 5,834,214 shares of the construction company’s stock worth $729,568,000 after buying an additional 5,661,088 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in United Rentals by 114.6% during the first quarter. JPMorgan Chase & Co. now owns 2,539,634 shares of the construction company’s stock worth $317,582,000 after buying an additional 1,356,308 shares in the last quarter. AQR Capital Management LLC grew its stake in United Rentals by 362.1% in the 1st quarter. AQR Capital Management LLC now owns 1,109,900 shares of the construction company’s stock valued at $138,793,000 after purchasing an additional 869,711 shares during the period. State Street Corp grew its stake in United Rentals by 15.0% in the 2nd quarter. State Street Corp now owns 5,843,162 shares of the construction company’s stock valued at $658,586,000 after purchasing an additional 763,469 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in United Rentals by 320.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 760,094 shares of the construction company’s stock valued at $85,670,000 after purchasing an additional 579,400 shares during the period. Institutional investors and hedge funds own 93.72% of the company’s stock.
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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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