Rhumbline Advisers reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 4.4% during the 1st quarter, Holdings Channel reports. The firm owned 144,287 shares of the construction company’s stock after selling 6,589 shares during the quarter. Rhumbline Advisers’ holdings in United Rentals were worth $16,485,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of URI. Doyle Wealth Management purchased a new stake in shares of United Rentals during the 4th quarter valued at approximately $28,000. CNB Bank purchased a new stake in shares of United Rentals during the 1st quarter valued at approximately $28,000. CSat Investment Advisory L.P. raised its position in shares of United Rentals by 160.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 279 shares of the construction company’s stock valued at $29,000 after buying an additional 172 shares during the period. Ropes Wealth Advisors LLC purchased a new stake in shares of United Rentals during the 1st quarter valued at approximately $32,000. Finally, Rational Advisors LLC raised its position in shares of United Rentals by 9,100.0% during the 4th quarter. Rational Advisors LLC now owns 368 shares of the construction company’s stock valued at $38,000 after buying an additional 364 shares during the period. Institutional investors and hedge funds own 88.59% of the company’s stock.
URI has been the topic of several analyst reports. Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a research report on Wednesday, January 30th. Standpoint Research lowered shares of United Rentals from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. OTR Global lowered shares of United Rentals to a “positive” rating in a research report on Monday, April 1st. Morgan Stanley lifted their price target on shares of United Rentals from $168.00 to $176.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of United Rentals in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $156.91.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 17th. The construction company reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. United Rentals had a return on equity of 41.52% and a net margin of 12.91%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.87 earnings per share. Analysts predict that United Rentals, Inc. will post 19.67 earnings per share for the current fiscal year.
In other United Rentals news, EVP Paul I. Mcdonnell sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $125.59, for a total value of $1,318,695.00. Following the sale, the executive vice president now owns 22,285 shares of the company’s stock, valued at $2,798,773.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Kneeland sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $132.73, for a total value of $3,981,900.00. Following the completion of the sale, the chief executive officer now directly owns 202,237 shares in the company, valued at approximately $26,842,917.01. The disclosure for this sale can be found here. In the last three months, insiders sold 130,190 shares of company stock worth $17,028,371. 1.00% of the stock is owned by corporate insiders.
About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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