Macquarie Group Ltd. Buys 2,808 Shares of United Rentals, Inc. (URI)
Macquarie Group Ltd. grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 211,681 shares of the construction company’s stock after buying an additional 2,808 shares during the period. Macquarie Group Ltd. owned 0.25% of United Rentals worth $29,368,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. First Manhattan Co. boosted its holdings in shares of United Rentals by 4,204.3% during the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock worth $111,000 after purchasing an additional 967 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of United Rentals during the second quarter worth $151,000. Huntington National Bank boosted its holdings in shares of United Rentals by 14.2% during the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock worth $163,000 after purchasing an additional 179 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of United Rentals by 40.4% during the second quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock worth $187,000 after purchasing an additional 478 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of United Rentals by 8.8% during the second quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock worth $202,000 after purchasing an additional 145 shares during the last quarter. 93.34% of the stock is owned by institutional investors.
United Rentals, Inc. (NYSE:URI) traded down $0.05 during trading hours on Friday, reaching $153.22. The company’s stock had a trading volume of 408,336 shares, compared to its average volume of 1,587,722. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 3.47. United Rentals, Inc. has a one year low of $94.20 and a one year high of $155.00. The stock has a market capitalization of $12,962.75, a price-to-earnings ratio of 15.44, a PEG ratio of 0.78 and a beta of 2.65.
United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 18th. The construction company reported $3.25 EPS for the quarter, beating 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 company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $2.58 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. research analysts predict that United Rentals, Inc. will post 10.56 EPS for the current fiscal year.
United Rentals declared that its board has approved a stock repurchase plan on Wednesday, October 18th that authorizes the company to repurchase $373.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other United Rentals news, insider Michael Kneeland sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $144.72, for a total value of $4,341,600.00. Following the transaction, the insider now directly owns 272,292 shares of the company’s stock, valued at $39,406,098.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief financial officer now directly owns 38,055 shares in the company, valued at $4,880,934.30. The disclosure for this sale can be found here. Insiders sold 65,433 shares of company stock worth $9,434,570 over the last three months. 1.20% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently issued reports on URI shares. Jefferies Group LLC raised their price objective on United Rentals from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 16th. Bank of America Corporation set a $165.00 price objective on United Rentals and gave the stock a “buy” rating in a report on Thursday, October 19th. UBS AG set a $150.00 price objective on United Rentals and gave the stock a “hold” rating in a report on Thursday, October 19th. Buckingham Research started coverage on United Rentals in a report on Tuesday. They set a “neutral” rating and a $154.00 price objective on the stock. Finally, Deutsche Bank AG restated a “hold” rating and set a $157.00 price objective (up previously from $130.00) on shares of United Rentals in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $145.57.
About United Rentals
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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