Lazard Asset Management LLC Has $8.68 Million Holdings in United Rentals, Inc. (URI)
Lazard Asset Management LLC grew its position in shares of United Rentals, Inc. (NYSE:URI) by 60.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,995 shares of the construction company’s stock after buying an additional 29,109 shares during the quarter. Lazard Asset Management LLC owned 0.09% of United Rentals worth $8,678,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Mutual of America Capital Management LLC raised its position in United Rentals by 2.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 25,595 shares of the construction company’s stock worth $2,885,000 after buying an additional 506 shares during the last quarter. New York State Common Retirement Fund raised its position in United Rentals by 0.4% during the 2nd quarter. New York State Common Retirement Fund now owns 312,048 shares of the construction company’s stock worth $35,171,000 after buying an additional 1,174 shares during the last quarter. Thrivent Financial For Lutherans raised its position in United Rentals by 5.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 143,667 shares of the construction company’s stock worth $16,192,000 after buying an additional 7,990 shares during the last quarter. Strategic Global Advisors LLC purchased a new position in United Rentals during the 2nd quarter worth $334,000. Finally, PNC Financial Services Group Inc. raised its position in United Rentals by 282.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 570,236 shares of the construction company’s stock worth $64,272,000 after buying an additional 421,101 shares during the last quarter. Institutional investors own 93.66% of the company’s stock.
In other United Rentals news, insider Michael Kneeland sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 302,292 shares in the company, valued at $36,507,804.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William B. Plummer sold 5,301 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $128.26, for a total transaction of $679,906.26. Following the completion of the sale, the chief financial officer now owns 38,055 shares in the company, valued at $4,880,934.30. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
Shares of United Rentals, Inc. (NYSE URI) opened at 132.31 on Friday. The company has a 50-day moving average of $117.55 and a 200-day moving average of $115.67. United Rentals, Inc. has a 52 week low of $70.58 and a 52 week high of $134.28. The firm has a market capitalization of $11.19 billion, a PE ratio of 19.22 and a beta of 2.42.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.28 by $0.09. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the business earned $2.06 earnings per share. United Rentals’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that United Rentals, Inc. will post $9.91 earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. ValuEngine upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Citigroup Inc. upped their price objective 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. Axiom Securities restated a “sell” rating on shares of United Rentals in a research report on Wednesday, July 26th. Stifel Nicolaus restated a “hold” rating on shares of United Rentals in a research report on Friday, July 21st. Finally, Bank of America Corporation restated a “buy” rating and set a $145.00 price objective (up previously from $130.00) on shares of United Rentals in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. United Rentals presently has a consensus rating of “Buy” and an average price target of $127.85.
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.
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