Concert Wealth Management Inc. Acquires 23 Shares of United Rentals Inc. (URI)
Concert Wealth Management Inc. boosted its position in United Rentals Inc. (NYSE:URI) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,867 shares of the company’s stock after buying an additional 23 shares during the period. Concert Wealth Management Inc.’s holdings in United Rentals were worth $998,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC increased its position in shares of United Rentals by 151.7% in the first quarter. Acadian Asset Management LLC now owns 4,077 shares of the company’s stock worth $254,000 after buying an additional 2,457 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its position in shares of United Rentals by 2.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 22,700 shares of the company’s stock worth $1,412,000 after buying an additional 500 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of United Rentals during the first quarter worth $286,000. Ngam Advisors L.P. increased its position in shares of United Rentals by 3.2% in the first quarter. Ngam Advisors L.P. now owns 62,563 shares of the company’s stock worth $3,891,000 after buying an additional 1,914 shares during the last quarter. Finally, Teachers Advisors Inc. increased its position in shares of United Rentals by 13.3% in the first quarter. Teachers Advisors Inc. now owns 189,602 shares of the company’s stock worth $11,791,000 after buying an additional 22,289 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.
Shares of United Rentals Inc. (NYSE:URI) traded up 0.40% on Monday, reaching $81.08. The company’s stock had a trading volume of 797,803 shares. The stock has a market cap of $6.99 billion, a P/E ratio of 12.23 and a beta of 2.61. United Rentals Inc. has a 12 month low of $41.90 and a 12 month high of $84.63. The firm’s 50-day moving average price is $79.41 and its 200-day moving average price is $70.88.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.24. United Rentals had a return on equity of 50.82% and a net margin of 10.51%. The firm earned $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $1.95 EPS. The business’s revenue was down .6% compared to the same quarter last year. On average, analysts forecast that United Rentals Inc. will post $8.08 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on URI shares. Citigroup Inc. restated a “buy” rating and set a $85.00 target price (up from $72.00) on shares of United Rentals in a report on Monday, June 13th. Morgan Stanley restated a “buy” rating on shares of United Rentals in a report on Tuesday, June 28th. Jefferies Group set a $80.00 target price on shares of United Rentals and gave the stock a “buy” rating in a report on Thursday, July 21st. Royal Bank Of Canada upped their price objective on shares of United Rentals from $68.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, July 22nd. Finally, RBC Capital Markets reiterated a “hold” rating and issued a $80.00 price objective (up from $68.00) on shares of United Rentals in a report on Friday, July 22nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. United Rentals presently has an average rating of “Hold” and a consensus target price of $75.06.
In other news, insider Michael Kneeland sold 20,000 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $76.35, for a total transaction of $1,527,000.00. Following the completion of the sale, the insider now directly owns 387,169 shares of the company’s stock, valued at approximately $29,560,353.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brian Mcauley sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $81.09, for a total value of $324,360.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
About United Rentals
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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