American International Group Inc. Decreases Holdings in United Rentals, Inc. (URI)
American International Group Inc. lessened its holdings in United Rentals, Inc. (NYSE:URI) by 10.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,922 shares of the construction company’s stock after selling 3,426 shares during the quarter. American International Group Inc.’s holdings in United Rentals were worth $3,874,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Aviva PLC boosted its holdings in United Rentals by 4.5% in the second quarter. Aviva PLC now owns 49,326 shares of the construction company’s stock worth $5,560,000 after purchasing an additional 2,140 shares during the period. Atwood & Palmer Inc. acquired a new position in shares of United Rentals during the second quarter valued at $6,195,000. American Century Companies Inc. boosted its holdings in shares of United Rentals by 111.5% during the second quarter. American Century Companies Inc. now owns 630,058 shares of the construction company’s stock valued at $71,014,000 after acquiring an additional 332,211 shares during the period. 1060 Capital LLC acquired a new position in shares of United Rentals during the second quarter valued at $29,797,000. Finally, CNA Financial Corp acquired a new position in shares of United Rentals during the second quarter valued at $3,043,000. 91.74% of the stock is owned by hedge funds and other institutional investors.
Shares of United Rentals, Inc. (NYSE:URI) traded up $3.50 during midday trading on Thursday, hitting $161.78. 327,543 shares of the company were exchanged, compared to its average volume of 1,568,874. United Rentals, Inc. has a fifty-two week low of $100.62 and a fifty-two week high of $163.92. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 3.47. The company has a market capitalization of $13,463.43, a PE ratio of 16.03, a P/E/G ratio of 0.81 and a beta of 2.67.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.27. United Rentals had a net margin of 9.64% and a return on equity of 44.81%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business earned $2.58 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. analysts expect that United Rentals, Inc. will post 10.56 EPS for the current year.
United Rentals announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 18th that allows the company to repurchase $373.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, insider Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $144.72, for a total transaction of $4,341,600.00. Following the sale, the insider now directly owns 272,292 shares in the company, valued at $39,406,098.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Donald C. Roof sold 757 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $159.80, for a total transaction of $120,968.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,440 shares of company stock worth $10,055,421. Company insiders own 1.20% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of United Rentals from a “buy” rating to a “hold” rating in a report on Monday, September 25th. ValuEngine raised shares of United Rentals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Jefferies Group reissued a “buy” rating on shares of United Rentals in a report on Friday, August 18th. Citigroup boosted their price target on shares of United Rentals from $142.00 to $165.00 and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Stifel Nicolaus raised shares of United Rentals from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $145.57.
United Rentals Profile
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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