ING Groep NV boosted its stake in United Rentals Inc. (NYSE:URI) by 4.6% during the second quarter, Holdings Channel reports. The firm owned 23,118 shares of the company’s stock after buying an additional 1,026 shares during the period. ING Groep NV’s holdings in United Rentals were worth $1,551,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in URI. Bank of Montreal Can purchased a new position in United Rentals during the second quarter valued at approximately $121,012,000. Calamos Advisors LLC purchased a new position in United Rentals during the second quarter valued at approximately $36,853,000. American Century Companies Inc. raised its position in United Rentals by 163.4% in the second quarter. American Century Companies Inc. now owns 459,529 shares of the company’s stock valued at $30,834,000 after buying an additional 285,051 shares during the period. James Investment Research Inc. raised its position in United Rentals by 6,470.0% in the second quarter. James Investment Research Inc. now owns 249,661 shares of the company’s stock valued at $16,753,000 after buying an additional 245,861 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in United Rentals during the second quarter valued at approximately $15,205,000. 90.93% of the stock is currently owned by institutional investors.
Shares of United Rentals Inc. (NYSE:URI) traded up 3.26% during mid-day trading on Thursday, hitting $83.21. The stock had a trading volume of 2,570,612 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 12-month low of $41.90 and a 12-month high of $84.63. The firm has a market cap of $7.17 billion, a P/E ratio of 12.55 and a beta of 2.61.
United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.24. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. United Rentals had a return on equity of 50.82% and a net margin of 10.51%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 EPS. Equities analysts forecast that United Rentals Inc. will post $8.08 earnings per share for the current fiscal year.
Several research analysts have commented on URI shares. Macquarie started coverage on United Rentals in a research report on Thursday, August 25th. They set an “underperform” rating and a $92.00 price target on the stock. Bank of America Corp. raised United Rentals from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a research report on Thursday, August 18th. OTR Global raised United Rentals from a “mixed” rating to a “positive” rating in a research report on Friday, September 23rd. Argus started coverage on United Rentals in a report on Tuesday. They issued a “buy” rating and a $90.00 target price on the stock. Finally, Citigroup Inc. reissued a “buy” rating and issued a $85.00 target price (up previously from $72.00) on shares of United Rentals in a report on Monday, June 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $75.61.
In other news, Director Brian Mcauley sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $81.09, for a total transaction of $324,360.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Kneeland sold 20,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $76.35, for a total value of $1,527,000.00. Following the sale, the insider now owns 387,169 shares in the company, valued at $29,560,353.15. The disclosure for this sale can be found here. 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.