Tredje AP fonden purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) in the 3rd quarter, Holdings Channel reports. The fund purchased 12,000 shares of the construction company’s stock, valued at approximately $4,211,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of URI. Sei Investments Co. lifted its holdings in shares of United Rentals by 25.8% during the second quarter. Sei Investments Co. now owns 3,500 shares of the construction company’s stock worth $1,120,000 after buying an additional 718 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of United Rentals by 5.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,362 shares of the construction company’s stock worth $9,367,000 after purchasing an additional 1,569 shares during the period. Rafferty Asset Management LLC increased its position in shares of United Rentals by 29.0% in the second quarter. Rafferty Asset Management LLC now owns 4,608 shares of the construction company’s stock worth $1,470,000 after purchasing an additional 1,035 shares during the period. Van ECK Associates Corp increased its position in shares of United Rentals by 130.2% in the second quarter. Van ECK Associates Corp now owns 290 shares of the construction company’s stock worth $93,000 after purchasing an additional 164 shares during the period. Finally, Mid Atlantic Financial Management Inc. ADV bought a new position in United Rentals in the second quarter valued at about $262,000. 90.13% of the stock is owned by institutional investors.
In other United Rentals news, Director Jose B. Alvarez sold 925 shares of the firm’s stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $375.80, for a total value of $347,615.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 27th. The construction company reported $6.58 EPS for the quarter, missing the consensus estimate of $6.80 by ($0.22). United Rentals had a net margin of 13.04% and a return on equity of 28.88%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company posted $5.40 EPS. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. Research analysts predict that United Rentals, Inc. will post 21.86 earnings per share for the current year.
Several analysts have recently weighed in on URI shares. Robert W. Baird cut United Rentals from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $439.00 to $317.00 in a report on Tuesday, December 21st. Deutsche Bank Aktiengesellschaft cut their price objective on United Rentals from $402.00 to $384.00 and set a “hold” rating on the stock in a research note on Friday, December 10th. Barclays lifted their price objective on United Rentals from $290.00 to $300.00 and gave the stock an “underweight” rating in a research note on Thursday. Morgan Stanley raised United Rentals from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $297.00 to $395.00 in a research note on Thursday, December 9th. Finally, Citigroup boosted their price target on United Rentals from $400.00 to $445.00 and gave the company a “buy” rating in a research note on Tuesday, November 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and an average target price of $364.70.
United Rentals Company Profile
United Rentals, Inc engages in the equipment rental business. It offers rent to construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities. The firm operates through two business segments: General Rentals; and Trench, Power & Fluid Solutions. The General Rentals segment engages in the rental of construction, aerial and industrial equipment, general tools and light equipment, and related services and activities.
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