Independent Investors Inc. raised its position in shares of United Rentals, Inc. (NYSE:URI) by 6.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,550 shares of the construction company’s stock after buying an additional 550 shares during the period. Independent Investors Inc.’s holdings in United Rentals were worth $876,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Paradigm Asset Management Co. LLC purchased a new stake in United Rentals during the third quarter valued at about $49,000. Point72 Hong Kong Ltd purchased a new stake in United Rentals during the third quarter valued at about $106,000. Belpointe Asset Management LLC purchased a new stake in United Rentals during the third quarter valued at about $124,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in United Rentals by 103.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 984 shares of the construction company’s stock valued at $161,000 after buying an additional 500 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in United Rentals by 93.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 1,245 shares of the construction company’s stock valued at $184,000 after buying an additional 600 shares in the last quarter. 87.51% of the stock is owned by institutional investors.
URI has been the subject of a number of analyst reports. Morgan Stanley set a $190.00 price objective on shares of United Rentals and gave the company a “buy” rating in a research note on Friday, October 19th. Citigroup reduced their price target on shares of United Rentals from $200.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research report on Tuesday, September 18th. Buckingham Research set a $190.00 price target on shares of United Rentals and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Finally, UBS Group set a $180.00 price target on shares of United Rentals and gave the stock a “buy” rating in a research 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 issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $162.62.
United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 17th. The construction company reported $4.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.56 by $0.18. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.03 billion. United Rentals had a net margin of 21.96% and a return on equity of 39.46%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.25 earnings per share. Sell-side analysts predict that United Rentals, Inc. will post 16.27 EPS for the current fiscal year.
In other United Rentals news, Director Jenne K. Britell acquired 435 shares of the business’s stock in a transaction that occurred on Monday, October 22nd. The shares were purchased at an average price of $115.07 per share, with a total value of $50,055.45. Following the completion of the transaction, the director now owns 27,497 shares in the company, valued at $3,164,079.79. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jose B. Alvarez acquired 544 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average cost of $107.45 per share, for a total transaction of $58,452.80. Following the transaction, the director now owns 2,413 shares of the company’s stock, valued at approximately $259,276.85. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.
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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