Advisor Partners LLC Has $338,000 Stake in United Rentals, Inc. (NYSE:URI)
Advisor Partners LLC reduced its stake in United Rentals, Inc. (NYSE:URI) by 11.6% during the second quarter, Holdings Channel reports. The fund owned 3,003 shares of the construction company’s stock after selling 395 shares during the period. Advisor Partners LLC’s holdings in United Rentals were worth $338,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. First Manhattan Co. increased its stake in shares of United Rentals by 4,204.3% in the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after buying an additional 967 shares during the last quarter. Whittier Trust Co. increased its stake in shares of United Rentals by 7.2% in the first quarter. Whittier Trust Co. now owns 894 shares of the construction company’s stock valued at $112,000 after buying an additional 60 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of United Rentals during the first quarter valued at about $127,000. Huntington National Bank increased its stake in shares of United Rentals by 14.2% in the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock valued at $163,000 after buying an additional 179 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of United Rentals by 40.4% in the second quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock valued at $187,000 after buying an additional 478 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.
United Rentals, Inc. (NYSE URI) opened at 111.62 on Friday. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 16.21 and a beta of 2.43. United Rentals, Inc. has a 12-month low of $70.58 and a 12-month high of $134.28. The firm has a 50-day moving average of $114.89 and a 200 day moving average of $117.35.
United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 19th. The construction company reported $2.37 EPS for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.09. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the firm posted $2.06 EPS. On average, analysts predict that United Rentals, Inc. will post $9.91 earnings per share for the current fiscal year.
Several brokerages have issued reports on URI. Axiom Securities reissued a “sell” rating on shares of United Rentals in a research note on Tuesday, June 6th. BidaskClub lowered shares of United Rentals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research lowered shares of United Rentals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. ValuEngine raised shares of United Rentals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $145.00 target price (up from $130.00) on shares of United Rentals in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $124.50.
In related news, insider Michael Kneeland sold 30,000 shares of the stock in a transaction on Friday, July 21st. The shares were sold at an average price of $120.77, for a total value of $3,623,100.00. Following the transaction, the insider now directly owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.
About United Rentals
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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