DekaBank Deutsche Girozentrale Sells 22,844 Shares of United Rentals, Inc. (URI)
DekaBank Deutsche Girozentrale lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 25.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 68,657 shares of the construction company’s stock after selling 22,844 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in United Rentals were worth $10,816,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in URI. Oregon Public Employees Retirement Fund raised its holdings in United Rentals by 8,780.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,322,512 shares of the construction company’s stock valued at $62,000 after buying an additional 6,251,317 shares during the period. Norges Bank purchased a new stake in United Rentals during the 4th quarter valued at $76,188,000. Amundi Pioneer Asset Management Inc. raised its holdings in United Rentals by 37.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,375,290 shares of the construction company’s stock valued at $243,539,000 after buying an additional 641,130 shares during the period. Anchor Bolt Capital LP purchased a new stake in United Rentals during the 4th quarter valued at $60,853,000. Finally, Scout Investments Inc. raised its holdings in United Rentals by 248.9% during the 1st quarter. Scout Investments Inc. now owns 613,455 shares of the construction company’s stock valued at $70,087,000 after buying an additional 437,638 shares during the period. Institutional investors own 87.21% of the company’s stock.
In other news, Director Michael Kneeland sold 32,007 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $123.68, for a total transaction of $3,958,625.76. Following the transaction, the director now owns 223,871 shares of the company’s stock, valued at approximately $27,688,365.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul I. Mcdonnell sold 10,500 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $125.59, for a total value of $1,318,695.00. Following the transaction, the executive vice president now directly owns 22,285 shares in the company, valued at approximately $2,798,773.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,020 shares of company stock worth $31,757,626. Insiders own 1.00% of the company’s stock.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 17th. The construction company reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. United Rentals had a return on equity of 41.52% and a net margin of 12.91%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the firm posted $2.87 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. Sell-side analysts predict that United Rentals, Inc. will post 19.67 earnings per share for the current fiscal year.
URI has been the topic of several recent research reports. Standpoint Research lowered United Rentals from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Morgan Stanley increased their target price on United Rentals from $168.00 to $176.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. ValuEngine upgraded United Rentals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 24th. Zacks Investment Research upgraded United Rentals from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Wednesday, April 17th. Finally, Northcoast Research reiterated a “neutral” rating on shares of United Rentals in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. United Rentals currently has a consensus rating of “Hold” and a consensus price target of $156.91.
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.
Further Reading: Dollar Cost Averaging
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