United Rentals, Inc. (URI) Position Boosted by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC increased its position in shares of United Rentals, Inc. (NYSE:URI) by 20.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,597 shares of the construction company’s stock after purchasing an additional 2,598 shares during the period. Janney Montgomery Scott LLC’s holdings in United Rentals were worth $2,552,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in URI. Gulf International Bank UK Ltd lifted its holdings in United Rentals by 3.3% during the 3rd quarter. Gulf International Bank UK Ltd now owns 27,883 shares of the construction company’s stock valued at $4,561,000 after buying an additional 900 shares in the last quarter. BP PLC bought a new stake in United Rentals during the 3rd quarter valued at about $1,718,000. Virginia Retirement Systems ET AL lifted its holdings in United Rentals by 25.6% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 126,400 shares of the construction company’s stock valued at $20,679,000 after buying an additional 25,800 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of United Rentals by 26.2% in the 3rd quarter. American Century Companies Inc. now owns 852,277 shares of the construction company’s stock valued at $139,433,000 after purchasing an additional 176,951 shares in the last quarter. Finally, Vantage Financial Partners Ltd. Inc. bought a new stake in shares of United Rentals in the 3rd quarter valued at about $327,000. 87.97% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on URI. Bank of America set a $200.00 price target on shares of United Rentals and gave the company a “buy” rating in a report on Thursday, September 13th. Buckingham Research set a $190.00 price target on shares of United Rentals and gave the company a “buy” rating in a report on Tuesday, September 18th. Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a report on Tuesday, September 18th. Deutsche Bank set a $158.00 price target on shares of United Rentals and gave the company a “hold” rating in a report on Wednesday, September 5th. Finally, UBS Group set a $196.00 price target on shares of United Rentals and gave the company a “buy” rating in a report on Tuesday, August 14th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $165.69.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 17th. The construction company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.56 by $0.18. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.03 billion. United Rentals had a net margin of 21.96% and a return on equity of 39.46%. United Rentals’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.25 EPS. On average, equities research analysts expect that United Rentals, Inc. will post 16.23 earnings per share for the current year.
In other United Rentals news, Director Jenne K. Britell acquired 435 shares of the company’s stock in a transaction dated Monday, October 22nd. The shares were acquired at an average cost of $115.07 per share, with a total value of $50,055.45. Following the acquisition, the director now directly owns 27,497 shares of the company’s stock, valued at $3,164,079.79. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jose B. Alvarez acquired 544 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was acquired at an average cost of $107.45 per share, for a total transaction of $58,452.80. Following the completion of the acquisition, the director now directly owns 2,413 shares in the company, valued at $259,276.85. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.
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United Rentals Profile
United Rentals, Inc is a holding company, which through its subsidiary, engages in the equipment rental business. It offers rent to construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities. The company operates through two business segments: General Rentals; and Trench, power and pump.
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