United Rentals, Inc. (URI) Shares Bought by Traynor Capital Management Inc.
Traynor Capital Management Inc. increased its holdings in United Rentals, Inc. (NYSE:URI) by 43.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,127 shares of the construction company’s stock after acquiring an additional 943 shares during the period. Traynor Capital Management Inc.’s holdings in United Rentals were worth $431,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Dumont & Blake Investment Advisors LLC lifted its stake in United Rentals by 0.3% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 5,360 shares of the construction company’s stock worth $604,000 after acquiring an additional 15 shares in the last quarter. Profund Advisors LLC lifted its stake in United Rentals by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 2,256 shares of the construction company’s stock worth $254,000 after acquiring an additional 24 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in United Rentals by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,279 shares of the construction company’s stock worth $708,000 after acquiring an additional 25 shares in the last quarter. Bank of Hawaii lifted its stake in United Rentals by 0.3% in the 2nd quarter. Bank of Hawaii now owns 11,330 shares of the construction company’s stock worth $1,277,000 after acquiring an additional 30 shares in the last quarter. Finally, Alps Advisors Inc. lifted its stake in United Rentals by 0.7% in the 2nd quarter. Alps Advisors Inc. now owns 9,511 shares of the construction company’s stock worth $1,072,000 after acquiring an additional 62 shares in the last quarter. 93.28% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. BidaskClub downgraded United Rentals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research downgraded United Rentals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Bank of America Corporation reissued a “buy” rating and issued a $145.00 price objective (up from $130.00) on shares of United Rentals in a research note on Thursday, July 20th. Axiom Securities reissued a “sell” rating on shares of United Rentals in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada raised United Rentals from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $128.00 to $138.00 in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $144.97.
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In related news, CFO William B. Plummer sold 5,301 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $128.26, for a total transaction of $679,906.26. Following the sale, the chief financial officer now owns 38,055 shares in the company, valued at $4,880,934.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Filippo Passerini sold 3,308 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $143.24, for a total value of $473,837.92. The disclosure for this sale can be found here. Insiders have sold 38,609 shares of company stock worth $5,495,344 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.
Shares of United Rentals, Inc. (NYSE URI) traded down 0.81% on Tuesday, hitting $142.42. The stock had a trading volume of 360,825 shares. The stock has a market capitalization of $12.04 billion, a PE ratio of 20.69 and a beta of 2.46. The firm’s 50 day moving average is $137.96 and its 200-day moving average is $119.21. United Rentals, Inc. has a one year low of $70.58 and a one year high of $147.60.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.27. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company posted $2.58 earnings per share. United Rentals’s revenue was up 17.1% on a year-over-year basis. Equities research analysts expect that United Rentals, Inc. will post $10.38 earnings per share for the current fiscal year.
United Rentals announced that its board has initiated a stock repurchase program on Wednesday, October 18th that authorizes the company to buyback $373.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
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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