Wells Fargo & Company MN Sells 5,491 Shares of United Rentals, Inc. (URI)
Wells Fargo & Company MN cut its position in shares of United Rentals, Inc. (NYSE:URI) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,717 shares of the construction company’s stock after selling 5,491 shares during the quarter. Wells Fargo & Company MN owned approximately 0.24% of United Rentals worth $22,848,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aviva PLC grew its holdings in shares of United Rentals by 4.5% during the second quarter. Aviva PLC now owns 49,326 shares of the construction company’s stock worth $5,560,000 after buying an additional 2,140 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of United Rentals during the second quarter worth about $6,195,000. American Century Companies Inc. grew its holdings in shares of United Rentals by 111.5% during the second quarter. American Century Companies Inc. now owns 630,058 shares of the construction company’s stock worth $71,014,000 after buying an additional 332,211 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of United Rentals by 4.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 390,497 shares of the construction company’s stock worth $48,832,000 after buying an additional 16,701 shares in the last quarter. Finally, 1060 Capital LLC purchased a new stake in shares of United Rentals during the second quarter worth about $29,797,000. Institutional investors and hedge funds own 93.66% of the company’s stock.
In related news, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $120.77, for a total value of $3,623,100.00. Following the completion of the transaction, the insider now directly owns 302,292 shares in the company, valued at $36,507,804.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William B. Plummer sold 5,301 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the completion of the transaction, the chief financial officer now owns 38,055 shares of the company’s stock, valued at $4,880,934.30. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
United Rentals, Inc. (NYSE:URI) opened at 132.31 on Monday. The firm’s 50-day moving average is $117.55 and its 200-day moving average is $115.67. The firm has a market capitalization of $11.19 billion, a PE ratio of 19.22 and a beta of 2.42. United Rentals, Inc. has a 12 month low of $70.58 and a 12 month high of $134.28.
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, topping analysts’ consensus estimates of $2.28 by $0.09. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share. On average, equities research analysts expect that United Rentals, Inc. will post $9.91 EPS for the current year.
A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Citigroup Inc. lifted their price target on shares of United Rentals from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Axiom Securities reiterated a “sell” rating on shares of United Rentals in a report on Wednesday, July 26th. Stifel Nicolaus reiterated a “hold” rating on shares of United Rentals in a report on Friday, July 21st. Finally, Bank of America Corporation reiterated a “buy” rating and set a $145.00 price target (up from $130.00) on shares of United Rentals in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $127.85.
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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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