United Rentals, Inc. (URI) Insider Sells $4,341,600.00 in Stock
United Rentals, Inc. (NYSE:URI) insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $144.72, for a total transaction of $4,341,600.00. Following the completion of the sale, the insider now directly owns 272,292 shares in the company, valued at $39,406,098.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
United Rentals, Inc. (URI) remained flat at $144.40 on Friday. 2,524,998 shares of the stock were exchanged. The stock’s 50-day moving average price is $134.17 and its 200 day moving average price is $118.29. The company has a market capitalization of $12.21 billion, a PE ratio of 20.98 and a beta of 2.46. United Rentals, Inc. has a 52 week low of $70.58 and a 52 week high of $147.60.
United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.27. United Rentals had a net margin of 9.64% and a return on equity of 47.50%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, equities analysts anticipate that United Rentals, Inc. will post $10.24 earnings per share for the current fiscal year.
United Rentals announced that its board has initiated a stock repurchase plan on Wednesday, October 18th that allows the company to repurchase $373.00 million in outstanding shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Aviva PLC raised its position in shares of United Rentals by 4.5% in the second quarter. Aviva PLC now owns 49,326 shares of the construction company’s stock valued at $5,560,000 after purchasing an additional 2,140 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of United Rentals in the second quarter valued at approximately $6,195,000. American Century Companies Inc. raised its position in shares of United Rentals by 111.5% in the second quarter. American Century Companies Inc. now owns 630,058 shares of the construction company’s stock valued at $71,014,000 after purchasing an additional 332,211 shares during the period. 1060 Capital LLC bought a new stake in shares of United Rentals in the second quarter valued at approximately $29,797,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of United Rentals by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 390,497 shares of the construction company’s stock valued at $48,832,000 after purchasing an additional 16,701 shares during the period. 93.66% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on URI. BidaskClub cut shares of United Rentals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Zacks Investment Research cut shares of United Rentals from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Bank of America Corporation reaffirmed a “buy” rating and issued a $145.00 target price (up from $130.00) on shares of United Rentals in a report on Thursday, July 20th. Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada raised shares of United Rentals from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $128.00 to $138.00 in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $140.70.
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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