CIBC Asset Management Inc Sells 4 Shares of United Rentals, Inc. (NYSE:URI)
CIBC Asset Management Inc cut its position in shares of United Rentals, Inc. (NYSE:URI) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 8,721 shares of the construction company’s stock after selling 4 shares during the period. CIBC Asset Management Inc’s holdings in United Rentals were worth $983,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of URI. Chevy Chase Trust Holdings Inc. increased its stake in United Rentals by 5.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 74,234 shares of the construction company’s stock worth $9,283,000 after buying an additional 3,650 shares during the period. Gulf International Bank UK Ltd increased its stake in United Rentals by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 28,198 shares of the construction company’s stock worth $3,526,000 after buying an additional 200 shares during the period. National Pension Service increased its stake in United Rentals by 5,827.9% in the first quarter. National Pension Service now owns 85,776 shares of the construction company’s stock worth $10,651,000 after buying an additional 84,329 shares during the period. Pennsylvania Trust Co acquired a new stake in United Rentals during the first quarter worth about $200,000. Finally, Capstone Asset Management Co. increased its stake in United Rentals by 2.5% in the first quarter. Capstone Asset Management Co. now owns 10,654 shares of the construction company’s stock worth $1,332,000 after buying an additional 260 shares during the period. Institutional investors own 95.05% of the company’s stock.
United Rentals, Inc. (URI) opened at 111.54 on Friday. United Rentals, Inc. has a 52-week low of $70.58 and a 52-week high of $134.28. The firm’s 50-day moving average is $115.11 and its 200-day moving average is $117.36. The company has a market capitalization of $9.43 billion, a PE ratio of 16.20 and a beta of 2.43.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.09. United Rentals had a return on equity of 30.56% and a net margin of 8.83%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the firm posted $2.06 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts forecast that United Rentals, Inc. will post $9.91 EPS for the current year.
Several equities analysts recently weighed in on URI shares. Zacks Investment Research cut shares of United Rentals from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $150.00 target price on shares of United Rentals in a research note on Friday, June 9th. Citigroup Inc. raised their target price on shares of United Rentals from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Vetr raised shares of United Rentals from a “buy” rating to a “strong-buy” rating and set a $125.52 target price for the company in a research note on Monday, May 1st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of United Rentals in a research note on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $124.50.
In other news, insider Michael Kneeland sold 30,000 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the completion of the sale, the insider now directly owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
About United Rentals
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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