The First Citizens Bank & Trust Co. Acquires 77,913 Shares of United Rentals Inc. (URI)

The First Citizens Bank & Trust Co. Acquires 77,913  Shares of United Rentals Inc. (URI)

First Citizens Bank & Trust Co. purchased a new stake in shares of United Rentals Inc. (NYSE:URI) during the second quarter, Holdings Channel reports. The firm purchased 77,913 shares of the company’s stock, valued at approximately $5,228,000.

Other hedge funds also recently made changes to their positions in the company. Invictus RG raised its stake in shares of United Rentals by 2,900.0% in the first quarter. Invictus RG now owns 2,040 shares of the company’s stock valued at $127,000 after buying an additional 1,972 shares in the last quarter. Huntington National Bank raised its stake in shares of United Rentals by 66.6% in the second quarter. Huntington National Bank now owns 2,308 shares of the company’s stock valued at $155,000 after buying an additional 923 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in shares of United Rentals during the second quarter valued at approximately $181,000. Euclid Advisors LLC bought a new stake in shares of United Rentals during the first quarter valued at approximately $221,000. Finally, National Planning Corp bought a new stake in shares of United Rentals during the first quarter valued at approximately $227,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Inc. (NYSE:URI) traded down 2.67% on Friday, hitting $80.99. The stock had a trading volume of 1,682,719 shares. The company has a 50-day moving average price of $79.41 and a 200-day moving average price of $70.76. United Rentals Inc. has a 52 week low of $41.90 and a 52 week high of $84.63. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 12.21 and a beta of 2.61.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, July 20th. The company reported $2.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.24. United Rentals had a return on equity of 50.82% and a net margin of 10.51%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the business posted $1.95 EPS. United Rentals’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that United Rentals Inc. will post $8.08 earnings per share for the current fiscal year.

Several brokerages have issued reports on URI. RBC Capital Markets reiterated a “hold” rating and issued a $80.00 price objective (up previously from $68.00) on shares of United Rentals in a research report on Friday, July 22nd. Bank of America Corp. upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 price objective for the company in a research report on Thursday, August 18th. Zacks Investment Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research report on Wednesday, July 27th. Macquarie began coverage on United Rentals in a research report on Thursday, August 25th. They issued an “underperform” rating and a $92.00 price objective for the company. Finally, Morgan Stanley reiterated a “buy” rating on shares of United Rentals in a research report on Tuesday, June 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $75.61.

In related news, insider Michael Kneeland sold 20,000 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $76.35, for a total transaction of $1,527,000.00. Following the sale, the insider now owns 387,169 shares of the company’s stock, valued at approximately $29,560,353.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jessica Graziano sold 877 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $76.34, for a total value of $66,950.18. Following the sale, the vice president now directly owns 7,127 shares in the company, valued at approximately $544,075.18. 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.

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