Cornerstone Capital Management Holdings LLC. Sells 42,813 Shares of United Rentals, Inc. (URI)
Cornerstone Capital Management Holdings LLC. lessened its holdings in United Rentals, Inc. (NYSE:URI) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 261,745 shares of the construction company’s stock after selling 42,813 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.31% of United Rentals worth $29,499,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Aviva PLC raised its position 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 in the last quarter. Atwood & Palmer Inc. acquired a new position in United Rentals in the second quarter worth about $6,195,000. American Century Companies Inc. raised its position in United Rentals by 111.5% in the second quarter. American Century Companies Inc. now owns 630,058 shares of the construction company’s stock worth $71,014,000 after purchasing an additional 332,211 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in United Rentals by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 390,497 shares of the construction company’s stock worth $48,832,000 after purchasing an additional 16,701 shares in the last quarter. Finally, 1060 Capital LLC acquired a new position in United Rentals in the second quarter worth about $29,797,000. 93.75% of the stock is owned by hedge funds and other institutional investors.
Shares of United Rentals, Inc. (NYSE:URI) traded up 0.29% during mid-day trading on Friday, hitting $142.39. 150,817 shares of the company were exchanged. United Rentals, Inc. has a 12-month low of $70.58 and a 12-month high of $143.15. The firm has a market capitalization of $12.04 billion, a P/E ratio of 20.68 and a beta of 2.46. The company’s 50-day moving average price is $124.98 and its 200-day moving average price is $116.77.
United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.09. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.06 EPS. Equities research analysts predict that United Rentals, Inc. will post $9.94 earnings per share for the current fiscal year.
URI has been the subject of several recent research reports. Zacks Investment Research lowered shares of United Rentals from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $150.00 price target on shares of United Rentals in a research report on Friday, June 9th. Citigroup Inc. increased their price target on shares of United Rentals from $130.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Deutsche Bank AG reaffirmed a “hold” rating and set a $157.00 price objective (up previously from $130.00) on shares of United Rentals in a report on Tuesday. Finally, UBS AG reaffirmed a “neutral” rating and set a $125.00 price objective on shares of United Rentals in a report on Sunday, August 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. United Rentals currently has an average rating of “Buy” and an average target price of $133.17.
In related news, CFO William B. Plummer sold 5,301 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $128.26, for a total transaction of $679,906.26. Following the completion of the transaction, the chief financial officer now directly owns 38,055 shares in the company, valued at approximately $4,880,934.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the transaction, the insider now owns 302,292 shares of the company’s stock, valued at $36,507,804.84. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
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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