United Rentals, Inc. (URI) Position Cut by Miller Investment Management LP
Miller Investment Management LP reduced its position in shares of United Rentals, Inc. (NYSE:URI) by 14.2% in the 4th quarter, Holdings Channel reports. The firm owned 19,664 shares of the construction company’s stock after selling 3,250 shares during the period. United Rentals accounts for about 1.0% of Miller Investment Management LP’s investment portfolio, making the stock its 8th largest holding. Miller Investment Management LP’s holdings in United Rentals were worth $3,380,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. lifted its holdings in United Rentals by 8.4% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,073,773 shares of the construction company’s stock valued at $148,976,000 after purchasing an additional 83,014 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in United Rentals by 3.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 957,326 shares of the construction company’s stock valued at $132,805,000 after purchasing an additional 28,330 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in United Rentals by 16.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 886,171 shares of the construction company’s stock valued at $122,947,000 after purchasing an additional 126,077 shares during the last quarter. American Century Companies Inc. lifted its holdings in United Rentals by 6.4% during the 3rd quarter. American Century Companies Inc. now owns 670,479 shares of the construction company’s stock valued at $93,022,000 after purchasing an additional 40,421 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in United Rentals by 19.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 565,676 shares of the construction company’s stock valued at $78,482,000 after purchasing an additional 92,983 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.
In other United Rentals news, insider Michael Kneeland sold 30,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $182.75, for a total value of $5,482,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jenne K. Britell sold 3,250 shares of United Rentals stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $153.81, for a total transaction of $499,882.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,212 shares of company stock valued at $13,856,844. Insiders own 1.20% of the company’s stock.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 24th. The construction company reported $3.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.25 by $0.09. United Rentals had a net margin of 20.27% and a return on equity of 40.20%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $2.67 earnings per share. The company’s revenue was up 26.2% on a year-over-year basis. sell-side analysts anticipate that United Rentals, Inc. will post 15.38 EPS for the current year.
United Rentals announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 18th that allows the company to buyback $373.00 million in shares. This buyback authorization allows the construction company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
URI has been the subject of several analyst reports. Bank of America raised shares of United Rentals to a “buy” rating and lifted their price target for the company from $165.00 to $195.00 in a report on Tuesday, December 19th. Stifel Nicolaus reissued a “buy” rating and set a $171.00 price target on shares of United Rentals in a report on Thursday, December 14th. Zacks Investment Research downgraded shares of United Rentals from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Barclays initiated coverage on shares of United Rentals in a report on Tuesday, December 12th. They set an “underweight” rating and a $150.00 price target for the company. Finally, Royal Bank of Canada reissued a “buy” rating and set a $194.00 price target on shares of United Rentals in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $179.12.
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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