Deltec Asset Management LLC Has $2,495,000 Stake in United Rentals Inc. (URI)
Deltec Asset Management LLC decreased its stake in shares of United Rentals Inc. (NYSE:URI) by 7.5% during the second quarter, Holdings Channel reports. The firm owned 37,190 shares of the company’s stock after selling 3,000 shares during the period. Deltec Asset Management LLC’s holdings in United Rentals were worth $2,495,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Panagora Asset Management Inc. raised its position in shares of United Rentals by 12.8% in the first quarter. Panagora Asset Management Inc. now owns 576,903 shares of the company’s stock valued at $35,878,000 after buying an additional 65,631 shares during the period. Eagle Asset Management Inc. purchased a new position in shares of United Rentals during the second quarter valued at about $15,205,000. Cornerstone Financial Partners LLC raised its position in shares of United Rentals by 13.1% in the first quarter. Cornerstone Financial Partners LLC now owns 6,141 shares of the company’s stock valued at $378,000 after buying an additional 710 shares during the period. Aviva PLC raised its position in shares of United Rentals by 0.6% in the first quarter. Aviva PLC now owns 41,448 shares of the company’s stock valued at $2,578,000 after buying an additional 264 shares during the period. Finally, Magnetar Financial LLC raised its position in shares of United Rentals by 34.6% in the first quarter. Magnetar Financial LLC now owns 7,461 shares of the company’s stock valued at $464,000 after buying an additional 1,917 shares during the period. 91.16% of the stock is currently owned by institutional investors and hedge funds.
United Rentals Inc. (NYSE:URI) traded down 4.57% on Tuesday, reaching $75.56. The company’s stock had a trading volume of 2,470,635 shares. The company has a market cap of $6.51 billion, a P/E ratio of 11.39 and a beta of 2.37. United Rentals Inc. has a 52-week low of $41.90 and a 52-week high of $84.63. The firm’s 50-day moving average price is $79.77 and its 200 day moving average price is $69.29.
United Rentals (NYSE:URI) last announced its 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. United Rentals had a net margin of 10.51% and a return on equity of 50.82%. The business earned $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm earned $1.95 earnings per share. United Rentals’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts anticipate that United Rentals Inc. will post $8.05 EPS for the current fiscal year.
URI has been the topic of several research reports. Deutsche Bank AG initiated coverage on United Rentals in a research note on Tuesday, September 6th. They set a “hold” rating and a $79.00 price target on the stock. Axiom Securities reissued a “sell” rating on shares of United Rentals in a research note on Tuesday, August 30th. Morgan Stanley reissued a “buy” rating on shares of United Rentals in a research note on Tuesday, June 28th. Macquarie began coverage on United Rentals in a research note on Thursday, August 25th. They issued an “underperform” rating and a $92.00 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 research note on Monday, June 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.85.
In related news, SVP Dale A. Asplund sold 17,972 shares of United Rentals stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $78.52, for a total transaction of $1,411,161.44. Following the completion of the transaction, the senior vice president now owns 15,009 shares of the company’s stock, valued at $1,178,506.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jessica Graziano sold 877 shares of United Rentals stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $76.34, for a total transaction of $66,950.18. Following the transaction, the vice president now directly owns 7,127 shares of the company’s stock, valued at approximately $544,075.18. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
United Rentals Company Profile
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.
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