Morse Asset Management Inc Increases Holdings in United Rentals, Inc. (URI)
Morse Asset Management Inc raised its position in shares of United Rentals, Inc. (NYSE:URI) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,275 shares of the construction company’s stock after buying an additional 475 shares during the quarter. Morse Asset Management Inc’s holdings in United Rentals were worth $593,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in URI. First Manhattan Co. raised its stake in United Rentals by 4,204.3% during the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after buying an additional 967 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in United Rentals during the second quarter valued at approximately $151,000. Huntington National Bank raised its stake in United Rentals by 14.2% during the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock valued at $163,000 after buying an additional 179 shares in the last quarter. IFP Advisors Inc raised its stake in United Rentals by 40.4% during the second quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock valued at $187,000 after buying an additional 478 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in United Rentals by 8.8% during the second quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 93.28% of the company’s stock.
Shares of United Rentals, Inc. (NYSE URI) traded up $1.04 during mid-day trading on Friday, reaching $144.71. The company had a trading volume of 702,372 shares, compared to its average volume of 1,380,000. United Rentals, Inc. has a 1-year low of $71.55 and a 1-year high of $147.60. The company has a market cap of $12.24 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 0.89 and a beta of 2.65. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.92 and a quick ratio of 0.88.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 18th. The construction company reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.72 billion. During the same period in the prior year, the company posted $2.58 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. sell-side analysts forecast that United Rentals, Inc. will post 10.49 EPS for the current fiscal year.
United Rentals declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 18th that permits the company to buyback $373.00 million in shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director Donald C. Roof sold 4,500 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $143.95, for a total value of $647,775.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William B. Plummer sold 5,301 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the transaction, the chief financial officer now directly owns 38,055 shares of the company’s stock, valued at $4,880,934.30. The disclosure for this sale can be found here. Insiders sold a total of 43,109 shares of company stock valued at $6,143,119 over the last three months. Corporate insiders own 1.20% of the company’s stock.
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Several analysts have issued reports on the company. BidaskClub cut United Rentals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research cut United Rentals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. 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 note on Thursday, July 20th. Axiom Securities restated a “sell” rating on shares of United Rentals in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada upgraded United Rentals from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $128.00 to $138.00 in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $144.97.
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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