New England Research & Management Inc. increased its holdings in United Rentals, Inc. (NYSE:URI) by 13.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,024 shares of the construction company’s stock after acquiring an additional 1,200 shares during the period. New England Research & Management Inc.’s holdings in United Rentals were worth $1,028,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of United Rentals by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 1,872,326 shares of the construction company’s stock valued at $306,312,000 after acquiring an additional 112,939 shares in the last quarter. PointState Capital LP bought a new position in United Rentals during the third quarter valued at $169,517,000. American Century Companies Inc. grew its holdings in United Rentals by 26.2% during the third quarter. American Century Companies Inc. now owns 852,277 shares of the construction company’s stock valued at $139,433,000 after purchasing an additional 176,951 shares during the period. Morgan Stanley grew its holdings in United Rentals by 21.6% during the second quarter. Morgan Stanley now owns 755,594 shares of the construction company’s stock valued at $111,539,000 after purchasing an additional 134,101 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in United Rentals by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 737,831 shares of the construction company’s stock valued at $120,727,000 after purchasing an additional 5,354 shares during the period. 87.51% of the stock is owned by institutional investors.
In other news, Director Jose B. Alvarez purchased 544 shares of the stock in a transaction on Friday, October 26th. The shares were acquired at an average price of $107.45 per share, for a total transaction of $58,452.80. Following the completion of the transaction, the director now directly owns 2,413 shares of the company’s stock, valued at approximately $259,276.85. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jenne K. Britell purchased 435 shares of the stock in a transaction on Monday, October 22nd. The shares were purchased at an average price of $115.07 per share, for a total transaction of $50,055.45. Following the transaction, the director now directly owns 27,497 shares of the company’s stock, valued at $3,164,079.79. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 17th. The construction company reported $4.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.56 by $0.18. United Rentals had a return on equity of 39.46% and a net margin of 21.96%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business posted $3.25 earnings per share. The firm’s revenue was up 19.8% compared to the same quarter last year. On average, analysts expect that United Rentals, Inc. will post 16.27 earnings per share for the current fiscal year.
Several brokerages have weighed in on URI. Zacks Investment Research reissued a “hold” rating and set a $134.00 price objective on shares of United Rentals in a report on Saturday, November 17th. Royal Bank of Canada reduced their price objective on United Rentals to $188.00 and set an “outperform” rating for the company in a report on Friday, October 19th. Morgan Stanley set a $190.00 price objective on United Rentals and gave the company a “buy” rating in a report on Friday, October 19th. Barclays began coverage on United Rentals in a report on Friday, December 14th. They set an “equal weight” rating and a $130.00 price objective for the company. Finally, Bank of America set a $175.00 price objective on United Rentals and gave the company a “buy” rating in a report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $162.62.
United Rentals Company Profile
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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