Meridian Wealth Management LLC acquired a new stake in United Rentals, Inc. (NYSE:URI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,197 shares of the construction company’s stock, valued at approximately $328,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in United Rentals by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,872,326 shares of the construction company’s stock valued at $306,312,000 after acquiring an additional 112,939 shares during the last quarter. PointState Capital LP acquired a new stake in United Rentals in the 3rd quarter valued at about $169,517,000. American Century Companies Inc. grew its stake in United Rentals by 26.2% in the 3rd quarter. American Century Companies Inc. now owns 852,277 shares of the construction company’s stock valued at $139,433,000 after acquiring an additional 176,951 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in United Rentals by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 737,831 shares of the construction company’s stock valued at $120,727,000 after acquiring an additional 5,354 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in United Rentals by 16.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 682,750 shares of the construction company’s stock valued at $111,697,000 after acquiring an additional 95,677 shares during the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on URI shares. UBS Group set a $180.00 price target on shares of United Rentals and gave the stock a “buy” rating in a research note on Thursday, November 15th. Citigroup decreased their price target on shares of United Rentals from $200.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Morgan Stanley decreased their price target on shares of United Rentals from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Friday, December 14th. Finally, Royal Bank of Canada decreased their price target on shares of United Rentals to $188.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $157.09.
In related news, Director Shiv Singh acquired 390 shares of the business’s stock in a transaction dated Monday, January 28th. The shares were acquired at an average cost of $124.72 per share, for a total transaction of $48,640.80. Following the acquisition, the director now directly owns 2,803 shares in the company, valued at approximately $349,590.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig Adam Pintoff sold 7,343 shares of the stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $125.66, for a total transaction of $922,721.38. Following the transaction, the executive vice president now owns 18,720 shares in the company, valued at $2,352,355.20. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Shares of United Rentals stock traded up $0.62 during mid-day trading on Monday, hitting $126.91. 2,605 shares of the stock were exchanged, compared to its average volume of 1,723,982. United Rentals, Inc. has a twelve month low of $94.28 and a twelve month high of $190.74. The stock has a market capitalization of $10.05 billion, a P/E ratio of 7.81, a P/E/G ratio of 0.37 and a beta of 2.51. The company has a debt-to-equity ratio of 3.19, a current ratio of 0.83 and a quick ratio of 0.78.
United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, January 23rd. The construction company reported $4.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.77 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.22 billion. United Rentals had a net margin of 13.62% and a return on equity of 41.91%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the company earned $3.34 EPS. As a group, analysts forecast that United Rentals, Inc. will post 19.31 EPS for the current year.
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United Rentals Profile
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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