Wright Investors Service Inc. Has $764,000 Position in United Rentals, Inc. (URI)
Wright Investors Service Inc. increased its stake in shares of United Rentals, Inc. (NYSE:URI) by 28.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,508 shares of the construction company’s stock after purchasing an additional 1,233 shares during the period. Wright Investors Service Inc.’s holdings in United Rentals were worth $764,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of United Rentals by 4.1% during the second quarter. Vanguard Group Inc. now owns 9,531,812 shares of the construction company’s stock worth $1,074,330,000 after purchasing an additional 378,365 shares during the period. BlackRock Inc. grew its stake in shares of United Rentals by 3.3% during the second quarter. BlackRock Inc. now owns 6,025,017 shares of the construction company’s stock worth $679,080,000 after purchasing an additional 190,803 shares during the period. State Street Corp grew its stake in shares of United Rentals by 15.0% during the second quarter. State Street Corp now owns 5,843,162 shares of the construction company’s stock worth $658,586,000 after purchasing an additional 763,469 shares during the period. APG Asset Management N.V. grew its stake in shares of United Rentals by 36.0% during the second quarter. APG Asset Management N.V. now owns 1,195,466 shares of the construction company’s stock worth $134,741,000 after purchasing an additional 316,256 shares during the period. Finally, Old Mutual Global Investors UK Ltd. grew its stake in shares of United Rentals by 2.1% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,178,609 shares of the construction company’s stock worth $132,841,000 after purchasing an additional 23,895 shares during the period. 93.28% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on URI shares. Zacks Investment Research cut United Rentals from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a research note on Thursday, July 13th. Royal Bank Of Canada raised United Rentals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $128.00 to $138.00 in a research note on Monday, July 17th. BidaskClub raised United Rentals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $145.00 price objective (up from $130.00) on shares of United Rentals in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $144.97.
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 transaction, the chief financial officer now owns 38,055 shares of the company’s stock, valued at approximately $4,880,934.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Filippo Passerini sold 3,308 shares of the firm’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $143.24, for a total transaction of $473,837.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,609 shares of company stock worth $5,495,344. 1.20% of the stock is owned by insiders.
Shares of United Rentals, Inc. (NYSE URI) traded up 1.36% during mid-day trading on Wednesday, hitting $143.40. The stock had a trading volume of 512,730 shares. The firm’s 50 day moving average price is $138.42 and its 200 day moving average price is $119.37. United Rentals, Inc. has a 1-year low of $70.58 and a 1-year high of $147.60. The company has a market cap of $12.12 billion, a P/E ratio of 20.83 and a beta of 2.46.
United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share 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 44.81%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the firm earned $2.58 EPS. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. Analysts predict that United Rentals, Inc. will post $10.39 earnings per share for the current fiscal year.
United Rentals declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 18th that allows the company to repurchase $373.00 million in outstanding shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are 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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