Meridian Wealth Management LLC Buys New Position in United Rentals, Inc. (URI)
Meridian Wealth Management LLC acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the fourth quarter, Holdings Channel reports. The firm acquired 3,197 shares of the construction company’s stock, valued at approximately $328,000.
Other institutional investors have also modified their holdings of the company. Paradigm Asset Management Co. LLC purchased a new position in United Rentals in the 3rd quarter worth about $49,000. CWM LLC increased its stake in United Rentals by 653.0% in the 4th quarter. CWM LLC now owns 625 shares of the construction company’s stock worth $64,000 after purchasing an additional 542 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in United Rentals in the 3rd quarter worth about $106,000. Belpointe Asset Management LLC purchased a new position in United Rentals in the 3rd quarter worth about $124,000. Finally, Dubuque Bank & Trust Co. increased its stake in United Rentals by 181.5% in the 4th quarter. Dubuque Bank & Trust Co. now owns 836 shares of the construction company’s stock worth $86,000 after purchasing an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.
A number of equities analysts recently weighed in on the company. UBS Group set a $180.00 price target on United Rentals and gave the stock a “buy” rating in a research note on Thursday, November 15th. Citigroup dropped their price target on United Rentals from $200.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Morgan Stanley dropped their price target on United Rentals from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Zacks Investment Research raised United Rentals from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Friday, December 14th. Finally, Royal Bank of Canada dropped their price target on United Rentals to $188.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $157.09.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, January 23rd. The construction company reported $4.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.77 by $0.08. United Rentals had a return on equity of 41.91% and a net margin of 13.62%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the business posted $3.34 EPS. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities research analysts anticipate that United Rentals, Inc. will post 19.31 earnings per share for the current year.
In other United Rentals news, Director Shiv Singh bought 390 shares of the stock in a transaction on Monday, January 28th. The shares were bought at an average price of $124.72 per share, with a total value of $48,640.80. Following the purchase, the director now directly owns 2,803 shares in the company, valued at approximately $349,590.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Craig Adam Pintoff sold 7,343 shares of United Rentals stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $125.66, for a total value of $922,721.38. Following the transaction, the executive vice president now directly owns 18,720 shares in the company, valued at approximately $2,352,355.20. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
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About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power, and Pump. The General Rentals segment engages in the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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