Sterling Capital Management LLC lessened its stake in United Rentals, Inc. (NYSE:URI) by 2.8% in the third quarter, Holdings Channel reports. The fund owned 201,706 shares of the construction company’s stock after selling 5,778 shares during the period. Sterling Capital Management LLC’s holdings in United Rentals were worth $32,999,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its holdings in United Rentals by 93.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,245 shares of the construction company’s stock valued at $184,000 after purchasing an additional 600 shares during the period. Cerebellum GP LLC purchased a new position in United Rentals during the 3rd quarter valued at about $187,000. Jag Capital Management LLC purchased a new position in United Rentals during the 3rd quarter valued at about $203,000. Wagner Bowman Management Corp purchased a new position in United Rentals during the 2nd quarter valued at about $206,000. Finally, Welch & Forbes LLC purchased a new position in United Rentals during the 3rd quarter valued at about $215,000. 88.65% of the stock is owned by institutional investors.
URI stock opened at $125.14 on Friday. United Rentals, Inc. has a fifty-two week low of $106.48 and a fifty-two week high of $190.74. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 2.75. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 0.42 and a beta of 2.61.
United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 17th. The construction company reported $4.74 earnings per share for the quarter, topping analysts’ consensus estimates of $4.56 by $0.18. United Rentals had a return on equity of 39.46% and a net margin of 21.96%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the business earned $3.25 EPS. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts expect that United Rentals, Inc. will post 16.17 EPS for the current year.
In related news, Director Jose B. Alvarez purchased 544 shares of the company’s stock in a transaction dated Friday, October 26th. The shares were purchased at an average cost of $107.45 per share, with a total value of $58,452.80. Following the transaction, the director now directly owns 2,413 shares in the company, valued at approximately $259,276.85. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Donald C. Roof sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $167.78, for a total value of $838,900.00. Following the completion of the sale, the director now directly owns 12,564 shares in the company, valued at $2,107,987.92. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
A number of brokerages recently issued reports on URI. Zacks Investment Research downgraded United Rentals from a “buy” rating to a “hold” rating in a report on Monday, July 30th. ValuEngine downgraded United Rentals from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Bank of America set a $175.00 price target on United Rentals and gave the company a “buy” rating in a report on Thursday, October 18th. Citigroup reduced their price target on United Rentals from $200.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, October 19th. Finally, Royal Bank of Canada reduced their price target on United Rentals to $188.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $169.92.
About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power, and Pump. The General Rentals segment engages in 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; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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