Macquarie Group Ltd. increased its stake in shares of United Rentals Inc. (NYSE:URI) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 323,984 shares of the company’s stock after buying an additional 22,834 shares during the period. Macquarie Group Ltd.’s holdings in United Rentals were worth $21,740,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its position in United Rentals by 15.4% in the second quarter. Acrospire Investment Management LLC now owns 1,500 shares of the company’s stock valued at $101,000 after buying an additional 200 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in United Rentals by 91.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,532 shares of the company’s stock valued at $103,000 after buying an additional 730 shares during the last quarter. WFG Advisors LP raised its position in United Rentals by 4.6% in the second quarter. WFG Advisors LP now owns 1,735 shares of the company’s stock valued at $116,000 after buying an additional 77 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new position in United Rentals during the second quarter valued at $123,000. Finally, Tower Research Capital LLC TRC raised its position in United Rentals by 62.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,919 shares of the company’s stock valued at $129,000 after buying an additional 738 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.
United Rentals Inc. (NYSE:URI) traded up 0.79% during mid-day trading on Friday, reaching $98.12. The company had a trading volume of 652,259 shares. United Rentals Inc. has a one year low of $41.90 and a one year high of $98.12. The company’s 50-day moving average is $82.15 and its 200-day moving average is $75.71. The stock has a market capitalization of $8.26 billion, a PE ratio of 15.14 and a beta of 2.41.
United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.14. United Rentals had a return on equity of 48.98% and a net margin of 10.10%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $841 million. During the same period in the prior year, the business earned $2.57 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts anticipate that United Rentals Inc. will post $8.29 earnings per share for the current year.
A number of research firms have recently commented on URI. Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a research report on Saturday. Goldman Sachs Group Inc. raised United Rentals from a “sell” rating to a “neutral” rating and raised their price target for the stock from $66.00 to $90.00 in a research report on Thursday, November 10th. Morgan Stanley lowered United Rentals from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $85.00 to $81.00 in a research report on Monday, October 24th. Barclays PLC raised their price target on United Rentals from $81.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 12th. Finally, Argus began coverage on United Rentals in a research report on Tuesday, October 4th. They set a “buy” rating and a $90.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. United Rentals presently has an average rating of “Hold” and an average price target of $79.64.
In other United Rentals news, Director Jenne K. Britell sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $93.96, for a total transaction of $300,672.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Kneeland sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 21st. The stock was sold at an average price of $78.46, for a total value of $1,569,200.00. Following the sale, the insider now directly owns 367,169 shares of the company’s stock, valued at $28,808,079.74. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
About United Rentals
United Rentals, Inc is a holding company engaged in the business of equipment rental. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc (URNA) and subsidiaries of URNA. It operates through two segments: general rentals, and trench, power and pump. The general rentals includes the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts, general tools and light equipment, such as pressure washers, water pumps and power tools.