Argent Capital Management LLC Takes Position in United Rentals, Inc. (URI)
Argent Capital Management LLC acquired a new position in shares of United Rentals, Inc. (NYSE:URI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,072 shares of the construction company’s stock, valued at approximately $565,000.
Several other hedge funds have also made changes to their positions in URI. Americafirst Capital Management LLC bought a new position in United Rentals in the second quarter valued at about $151,000. IFP Advisors Inc raised its position in 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 purchasing an additional 478 shares during the last quarter. First Manhattan Co. raised its position in United Rentals by 42.9% in the third quarter. First Manhattan Co. now owns 1,415 shares of the construction company’s stock valued at $196,000 after purchasing an additional 425 shares during the last quarter. Pacer Advisors Inc. raised its position in United Rentals by 8.8% in the second quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 145 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in United Rentals in the third quarter valued at about $202,000. Institutional investors and hedge funds own 91.75% of the company’s stock.
United Rentals, Inc. (URI) traded up $0.16 during midday trading on Thursday, reaching $163.81. The company had a trading volume of 948,200 shares, compared to its average volume of 1,556,150. United Rentals, Inc. has a fifty-two week low of $100.62 and a fifty-two week high of $165.85. The firm has a market capitalization of $13,850.00, a PE ratio of 16.48, a P/E/G ratio of 0.84 and a beta of 2.67. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 3.47.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 18th. The construction company reported $3.25 EPS for the quarter, topping the consensus estimate of $2.98 by $0.27. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the firm posted $2.58 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. sell-side analysts predict that United Rentals, Inc. will post 10.56 earnings per share for the current year.
United Rentals announced that its Board of Directors has approved a share buyback plan on Wednesday, October 18th that permits the company to repurchase $373.00 million in shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In other United Rentals news, Director Donald C. Roof sold 757 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $159.80, for a total value of $120,968.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Singleton B. Mcallister sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $163.67, for a total value of $360,074.00. The disclosure for this sale can be found here. Insiders sold 71,640 shares of company stock valued at $10,415,495 in the last three months. Insiders own 1.20% of the company’s stock.
Several research firms have commented on URI. Stifel Nicolaus upgraded United Rentals from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a research report on Friday, August 18th. UBS reiterated a “neutral” rating and issued a $125.00 target price on shares of United Rentals in a research report on Sunday, August 20th. Jefferies Group increased their target price on United Rentals from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Buckingham Research started coverage on United Rentals in a research note on Tuesday, November 21st. They issued a “neutral” rating and a $154.00 price target for the company. Finally, Barclays started coverage on United Rentals in a research note on Tuesday. They issued an “underweight” rating and a $150.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $151.11.
TRADEMARK VIOLATION WARNING: This piece of content was posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/argent-capital-management-llc-takes-position-in-united-rentals-inc-uri/1764066.html.
United Rentals Company 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.
Receive News & Ratings for United Rentals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Rentals and related companies with Analyst Ratings Network's FREE daily email newsletter.