Putnam Investments LLC bought a new stake in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 132,362 shares of the construction company’s stock, valued at approximately $17,555,000.
Other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC boosted its position in shares of United Rentals by 1.2% during the 1st quarter. Clearbridge Investments LLC now owns 470,588 shares of the construction company’s stock valued at $53,765,000 after purchasing an additional 5,446 shares in the last quarter. DNB Asset Management AS boosted its position in shares of United Rentals by 2.8% during the 2nd quarter. DNB Asset Management AS now owns 26,840 shares of the construction company’s stock valued at $3,560,000 after purchasing an additional 740 shares in the last quarter. Advisory Services Network LLC boosted its holdings in United Rentals by 29.2% in the first quarter. Advisory Services Network LLC now owns 10,898 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 2,465 shares in the last quarter. Pendal Group Ltd bought a new position in United Rentals in the second quarter worth approximately $465,000. Finally, Putnam FL Investment Management Co. boosted its holdings in United Rentals by 30.9% in the second quarter. Putnam FL Investment Management Co. now owns 3,290 shares of the construction company’s stock worth $436,000 after acquiring an additional 777 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.
In related news, Director Jose B. Alvarez bought 238 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were bought at an average price of $125.98 per share, for a total transaction of $29,983.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald C. Roof bought 5,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was bought at an average price of $118.27 per share, for a total transaction of $591,350.00. The disclosure for this purchase can be found here. Insiders bought 7,238 shares of company stock worth $842,073 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.
United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 17th. The construction company reported $4.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.48 by $0.26. United Rentals had a return on equity of 41.97% and a net margin of 12.32%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the company earned $3.85 earnings per share. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities analysts predict that United Rentals, Inc. will post 19.3 earnings per share for the current fiscal year.
Several research analysts have issued reports on URI shares. Citigroup reiterated a “buy” rating and issued a $160.00 price target on shares of United Rentals in a report on Wednesday, September 11th. Goldman Sachs Group upgraded United Rentals from a “neutral” rating to a “buy” rating and increased their price target for the stock from $128.00 to $165.00 in a report on Friday. UBS Group set a $170.00 price target on United Rentals and gave the stock a “buy” rating in a report on Friday, June 28th. Deutsche Bank set a $128.00 price target on United Rentals and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, ValuEngine lowered United Rentals from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. United Rentals currently has an average rating of “Hold” and an average target price of $149.45.
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 Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including 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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