Swiss National Bank boosted its position in United Rentals, Inc. (NYSE:URI) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 311,200 shares of the construction company’s stock after buying an additional 4,100 shares during the period. Swiss National Bank owned approximately 367,979.19% of United Rentals worth $43,176,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Manhattan Co. boosted its position in United Rentals by 4,204.3% in 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 during the last quarter. Americafirst Capital Management LLC purchased a new stake in United Rentals in the second quarter valued at approximately $151,000. Huntington National Bank boosted its position in 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 buying an additional 179 shares during the last quarter. Calamos Advisors LLC purchased a new stake in United Rentals in the third quarter valued at approximately $208,000. Finally, Harbor Advisors LLC purchased a new stake in United Rentals in the third quarter valued at approximately $208,000. Hedge funds and other institutional investors own 91.91% of the company’s stock.
In other news, Director Filippo Passerini sold 3,308 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $143.24, for a total transaction of $473,837.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William B. Plummer sold 5,301 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was 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. Over the last ninety days, insiders have sold 65,433 shares of company stock valued at $9,434,570. Corporate insiders own 1.20% of the company’s stock.
URI has been the topic of a number of recent research reports. Jefferies Group LLC upped their target price on United Rentals from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Bank of America Corporation set a $165.00 target price on United Rentals and gave the company a “buy” rating in a research report on Thursday, October 19th. UBS AG set a $150.00 target price on United Rentals and gave the company a “hold” rating in a research report on Thursday, October 19th. Citigroup Inc. upped their target price on United Rentals from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $157.00 target price (up previously from $130.00) on shares of United Rentals in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $144.97.
United Rentals, Inc. (NYSE URI) opened at $144.87 on Wednesday. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a market capitalization of $12,230.33, a P/E ratio of 14.56, a PEG ratio of 0.88 and a beta of 2.65. United Rentals, Inc. has a 52 week low of $90.77 and a 52 week high of $149.45.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.27. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.58 EPS. research analysts anticipate that United Rentals, Inc. will post 10.49 earnings per share for the current year.
United Rentals announced that its Board of Directors has approved a stock buyback program 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. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
About United Rentals
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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