First Trust Advisors LP reduced its stake in United Rentals, Inc. (NYSE:URI) by 81.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,023 shares of the construction company’s stock after selling 264,079 shares during the period. First Trust Advisors LP owned approximately 0.07% of United Rentals worth $8,466,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Boston Advisors LLC boosted its stake in shares of United Rentals by 245.8% in the third quarter. Boston Advisors LLC now owns 140,828 shares of the construction company’s stock valued at $19,538,000 after buying an additional 100,103 shares during the period. Nationwide Fund Advisors raised its position in United Rentals by 16.2% during the third quarter. Nationwide Fund Advisors now owns 284,706 shares of the construction company’s stock valued at $39,500,000 after purchasing an additional 39,745 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in United Rentals by 10.5% during the third quarter. Gilman Hill Asset Management LLC now owns 9,140 shares of the construction company’s stock valued at $1,268,000 after purchasing an additional 865 shares in the last quarter. Alpha Cubed Investments LLC raised its position in United Rentals by 8.8% during the third quarter. Alpha Cubed Investments LLC now owns 61,710 shares of the construction company’s stock valued at $8,562,000 after purchasing an additional 4,975 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in United Rentals during the third quarter valued at approximately $4,384,000. Institutional investors and hedge funds own 93.27% of the company’s stock.
In related news, Director Filippo Passerini sold 3,308 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $143.24, for a total value of $473,837.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Donald C. Roof sold 4,500 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $143.95, for a total transaction of $647,775.00. The disclosure for this sale can be found here. In the last three months, insiders sold 65,433 shares of company stock worth $9,434,570. 1.20% of the stock is currently owned by insiders.
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Shares of United Rentals, Inc. (NYSE:URI) opened at $146.31 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 3.47. United Rentals, Inc. has a one year low of $88.17 and a one year high of $149.45. The firm has a market cap of $12,374.17, a price-to-earnings ratio of 14.73, a P/E/G ratio of 0.89 and a beta of 2.65.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.27. United Rentals had a net margin of 9.64% and a return on equity of 44.81%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. United Rentals’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts forecast that United Rentals, Inc. will post 10.49 EPS for the current year.
United Rentals announced that its Board of Directors has approved a share buyback plan on Wednesday, October 18th that permits the company to buyback $373.00 million in outstanding shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several research analysts have commented on URI shares. ValuEngine upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and set a $150.00 price objective on shares of United Rentals in a research report on Tuesday, September 5th. Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Wednesday, September 20th. Citigroup Inc. boosted their price objective on shares of 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 boosted their price objective on shares of United Rentals from $121.00 to $130.00 and gave the company a “hold” rating in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. United Rentals has a consensus rating of “Buy” and a consensus target price of $144.97.
United Rentals Company Profile
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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