United Rentals, Inc. (URI) Position Decreased by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,362 shares of the construction company’s stock after selling 13,200 shares during the quarter. Asset Management One Co. Ltd. owned about 0.27% of United Rentals worth $31,747,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of United Rentals by 4.1% during the second quarter. Vanguard Group Inc. now owns 9,531,812 shares of the construction company’s stock valued at $1,074,330,000 after purchasing an additional 378,365 shares in the last quarter. BlackRock Inc. raised its stake in shares of United Rentals by 3.3% during the second quarter. BlackRock Inc. now owns 6,025,017 shares of the construction company’s stock valued at $679,080,000 after purchasing an additional 190,803 shares in the last quarter. State Street Corp raised its stake in shares of United Rentals by 15.0% during the second 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 in the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in United Rentals by 2.1% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,178,609 shares of the construction company’s stock worth $132,841,000 after acquiring an additional 23,895 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in United Rentals by 8.4% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 1,073,773 shares of the construction company’s stock worth $148,976,000 after acquiring an additional 83,014 shares during the period. Institutional investors and hedge funds own 91.75% of the company’s stock.
Shares of United Rentals, Inc. (NYSE:URI) traded up $1.62 on Monday, reaching $164.00. The company had a trading volume of 1,094,800 shares, compared to its average volume of 1,564,330. The stock has a market cap of $13,870.00, a PE ratio of 16.52, a P/E/G ratio of 0.84 and a beta of 2.67. United Rentals, Inc. has a 1 year low of $100.62 and a 1 year high of $165.18. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.92 and a quick ratio of 0.88.
United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.27. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. United Rentals’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS. equities analysts anticipate that United Rentals, Inc. will post 10.56 EPS for the current year.
United Rentals declared that its board has authorized a stock buyback plan on Wednesday, October 18th that allows the company to buyback $373.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, insider Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $144.72, for a total value of $4,341,600.00. Following the transaction, the insider now owns 272,292 shares of the company’s stock, valued at approximately $39,406,098.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William B. Plummer sold 5,301 shares of United Rentals stock in a transaction dated Friday, September 15th. The stock was 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 directly owns 38,055 shares in the company, valued at approximately $4,880,934.30. The disclosure for this sale can be found here. Insiders sold a total of 69,440 shares of company stock worth $10,055,421 in the last three months. 1.20% of the stock is currently owned by company insiders.
A number of research firms recently issued reports on URI. Jefferies Group reaffirmed a “buy” rating on shares of United Rentals in a report on Friday, August 18th. Stifel Nicolaus raised United Rentals from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a report on Friday, August 18th. Deutsche Bank reaffirmed a “hold” rating and set a $157.00 target price (up from $130.00) on shares of United Rentals in a report on Tuesday, October 3rd. UBS set a $150.00 target price on United Rentals and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research raised United Rentals from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $145.57.
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United Rentals Profile
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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