M&T Bank Corp Decreases Stake in United Rentals, Inc. (URI)
M&T Bank Corp reduced its holdings in shares of United Rentals, Inc. (NYSE:URI) by 11.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,173 shares of the construction company’s stock after selling 1,099 shares during the quarter. M&T Bank Corp’s holdings in United Rentals were worth $922,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of URI. First Manhattan Co. grew its holdings in shares of United Rentals by 4,204.3% in the 2nd quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after acquiring an additional 967 shares in the last quarter. Huntington National Bank increased its position in shares of United Rentals by 14.2% in the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock valued at $163,000 after acquiring an additional 179 shares during the last quarter. IFP Advisors Inc increased its position in shares of 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 acquiring an additional 478 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of 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 acquiring an additional 145 shares during the last quarter. Finally, Investment Centers of America Inc. acquired a new stake in shares of United Rentals in the first quarter valued at about $203,000. 93.75% of the stock is owned by institutional investors.
United Rentals, Inc. (URI) opened at 139.20 on Tuesday. The firm has a 50-day moving average of $122.43 and a 200 day moving average of $116.29. United Rentals, Inc. has a 12 month low of $70.58 and a 12 month high of $139.98. The firm has a market capitalization of $11.77 billion, a PE ratio of 20.22 and a beta of 2.46.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.09. The business had revenue of $1.60 billion for 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 business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business earned $2.06 earnings per share. Equities research analysts forecast that United Rentals, Inc. will post $9.91 earnings per share for the current year.
In other United Rentals news, CFO William B. Plummer sold 5,301 shares of the business’s stock in a transaction dated 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 owns 38,055 shares in the company, valued at $4,880,934.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the transaction, the insider now directly 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 company insiders.
Several research firms have recently commented on URI. ValuEngine downgraded United Rentals from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 20th. Bank of America Corporation reissued a “buy” rating and issued a $145.00 price objective (up previously from $130.00) on shares of United Rentals in a research report on Thursday, July 20th. BidaskClub raised shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of United Rentals in a report on Friday, June 9th. Finally, Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus 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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