United Rentals, Inc. (URI) Shares Sold by Todd Asset Management LLC
Todd Asset Management LLC cut its position in shares of United Rentals, Inc. (NYSE:URI) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 300,586 shares of the construction company’s stock after selling 12,958 shares during the quarter. United Rentals accounts for 1.2% of Todd Asset Management LLC’s portfolio, making the stock its 17th largest position. Todd Asset Management LLC owned about 0.36% of United Rentals worth $41,703,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of URI. State Street Corp increased its position in shares of United Rentals by 15.0% during the 2nd quarter. State Street Corp now owns 5,843,162 shares of the construction company’s stock valued at $658,586,000 after purchasing an additional 763,469 shares during the period. Neuberger Berman Group LLC increased its position in shares of United Rentals by 320.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 760,094 shares of the construction company’s stock valued at $85,670,000 after purchasing an additional 579,400 shares during the period. Pioneer Investment Management Inc. increased its position in shares of United Rentals by 127.4% during the 2nd quarter. Pioneer Investment Management Inc. now owns 990,759 shares of the construction company’s stock valued at $111,669,000 after purchasing an additional 555,089 shares during the period. Janus Henderson Group PLC increased its position in shares of United Rentals by 4,154.0% during the 2nd quarter. Janus Henderson Group PLC now owns 552,510 shares of the construction company’s stock valued at $62,273,000 after purchasing an additional 539,522 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of United Rentals by 282.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 570,236 shares of the construction company’s stock valued at $64,272,000 after purchasing an additional 421,101 shares during the period. Institutional investors own 91.91% of the company’s stock.
In other United Rentals news, COO Matthew John Flannery sold 22,324 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $147.44, for a total transaction of $3,291,450.56. Following the transaction, the chief operating officer now directly owns 31,243 shares in the company, valued at $4,606,467.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO William B. Plummer sold 5,301 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the transaction, the chief financial officer now owns 38,055 shares in the company, valued at $4,880,934.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,433 shares of company stock worth $9,434,570. Corporate insiders own 1.20% of the company’s stock.
United Rentals, Inc. (URI) traded down $1.65 during midday trading on Monday, reaching $144.66. The company’s stock had a trading volume of 847,444 shares, compared to its average volume of 1,340,000. United Rentals, Inc. has a one year low of $88.17 and a one year high of $149.45. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 3.47. The company has a market capitalization of $12,230.00, a price-to-earnings ratio of 14.73, a P/E/G ratio of 0.89 and a beta of 2.65.
United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.27. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $2.58 earnings per share. The business’s revenue was up 17.1% compared to the same quarter last year. analysts forecast that United Rentals, Inc. will post 10.49 earnings per share for the current fiscal year.
United Rentals declared that its board has approved a share repurchase program on Wednesday, October 18th that allows the company to repurchase $373.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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URI has been the topic of several research analyst reports. ValuEngine upgraded United Rentals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and set a $150.00 price target on shares of United Rentals in a research report on Tuesday, September 5th. Zacks Investment Research raised United Rentals from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Wednesday, September 20th. Citigroup Inc. raised their price objective on United Rentals from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Finally, Deutsche Bank AG raised their price objective on United Rentals from $121.00 to $130.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $144.97.
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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