United Rentals (URI) Bonds Trading 0.4% Lower

An issue of United Rentals, Inc. (NYSE:URI) bonds fell 0.4% as a percentage of their face value during trading on Wednesday. The high-yield debt issue has a 4.875% coupon and will mature on January 15, 2028. The bonds in the issue are now trading at $100.50 and were trading at $100.75 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

URI has been the topic of several recent research reports. ValuEngine upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Jefferies Group reiterated a “buy” rating and set a $150.00 target price on shares of United Rentals in a 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 target price on the stock in a report on Wednesday, September 20th. Bank of America set a $165.00 target price on shares of United Rentals and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Citigroup increased their target price on shares of United Rentals from $142.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. United Rentals presently has a consensus rating of “Buy” and a consensus price target of $154.18.

United Rentals, Inc. (NYSE:URI) traded up $0.86 during trading hours on Wednesday, hitting $171.47. 607,529 shares of the stock were exchanged, compared to its average volume of 1,537,425. United Rentals, Inc. has a twelve month low of $100.62 and a twelve month high of $172.22. The company has a market cap of $14,334.55, a PE ratio of 24.29, a P/E/G ratio of 0.87 and a beta of 2.67. 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 (NYSE:URI) last released its quarterly earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.27. United Rentals had a net margin of 11.27% and a return on equity of 38.38%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the business earned $2.58 EPS. The company’s revenue was up 17.1% compared to the same quarter last year. equities analysts expect that United Rentals, Inc. will post 10.56 earnings per share for the current fiscal year.

United Rentals announced that its board has authorized a share repurchase plan on Wednesday, October 18th that permits the company to repurchase $373.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In related news, insider Michael Kneeland sold 30,000 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $144.72, for a total value of $4,341,600.00. Following the completion of the transaction, the insider now directly owns 272,292 shares of the company’s stock, valued at approximately $39,406,098.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Singleton B. Mcallister sold 2,200 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $163.67, for a total transaction of $360,074.00. The disclosure for this sale can be found here. Insiders sold a total of 91,760 shares of company stock worth $13,873,111 over the last 90 days. Company insiders own 1.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in URI. Fieldpoint Private Securities LLC purchased a new position in shares of United Rentals in the 3rd quarter valued at approximately $119,000. Americafirst Capital Management LLC purchased a new position in shares of United Rentals in the 2nd quarter valued at approximately $151,000. First Manhattan Co. raised its position in shares of United Rentals by 42.9% in the 3rd quarter. First Manhattan Co. now owns 1,415 shares of the construction company’s stock valued at $196,000 after purchasing an additional 425 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of United Rentals by 8.8% in the 2nd quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 145 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of United Rentals in the 3rd quarter valued at approximately $202,000. 91.37% of the stock is owned by hedge funds and other institutional investors.

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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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