Morris Capital Advisors LLC Grows Position in United Rentals, Inc. (NYSE:URI)

Morris Capital Advisors LLC raised its stake in United Rentals, Inc. (NYSE:URIGet Rating) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,618 shares of the construction company’s stock after purchasing an additional 220 shares during the period. United Rentals accounts for about 2.7% of Morris Capital Advisors LLC’s holdings, making the stock its 14th biggest position. Morris Capital Advisors LLC’s holdings in United Rentals were worth $3,065,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in URI. Capital Research Global Investors increased its stake in United Rentals by 55.7% in the first quarter. Capital Research Global Investors now owns 2,693,664 shares of the construction company’s stock valued at $956,818,000 after purchasing an additional 964,105 shares during the last quarter. Norges Bank purchased a new position in United Rentals in the fourth quarter valued at approximately $238,172,000. Marshall Wace LLP purchased a new position in United Rentals in the fourth quarter valued at approximately $87,926,000. Royal Bank of Canada increased its stake in United Rentals by 49.1% in the first quarter. Royal Bank of Canada now owns 672,534 shares of the construction company’s stock valued at $238,890,000 after purchasing an additional 221,613 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in United Rentals by 2.3% in the first quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock valued at $2,905,379,000 after purchasing an additional 186,931 shares during the last quarter. 90.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 308 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $333.24, for a total value of $102,637.92. Following the completion of the sale, the vice president now owns 2,070 shares of the company’s stock, valued at $689,806.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Andrew B. Limoges sold 308 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $333.24, for a total value of $102,637.92. Following the completion of the transaction, the vice president now owns 2,070 shares in the company, valued at $689,806.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jessica Graziano sold 977 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $325.00, for a total value of $317,525.00. Following the completion of the transaction, the chief financial officer now owns 21,587 shares of the company’s stock, valued at approximately $7,015,775. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,361 shares of company stock valued at $6,142,963. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on URI. OTR Global lowered shares of United Rentals to a “positive” rating in a research note on Wednesday, June 22nd. Robert W. Baird increased their price objective on United Rentals from $247.00 to $312.00 in a report on Thursday, July 28th. Sanford C. Bernstein downgraded United Rentals from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $307.00 to $269.00 in a report on Thursday, August 18th. KeyCorp increased their price objective on United Rentals from $375.00 to $425.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Finally, Citigroup increased their price objective on United Rentals to $375.00 in a report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $360.82.

United Rentals Stock Performance

Shares of NYSE URI traded down $9.89 during mid-day trading on Friday, hitting $263.38. 88,086 shares of the company were exchanged, compared to its average volume of 665,565. United Rentals, Inc. has a 1-year low of $230.54 and a 1-year high of $414.99. The company has a quick ratio of 0.97, a current ratio of 1.07 and a debt-to-equity ratio of 1.61. The stock has a 50 day simple moving average of $301.62 and a 200-day simple moving average of $299.91. The firm has a market cap of $18.43 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 0.51 and a beta of 1.92.

United Rentals (NYSE:URIGet Rating) last released its earnings results on Wednesday, July 27th. The construction company reported $7.86 EPS for the quarter, beating analysts’ consensus estimates of $6.57 by $1.29. United Rentals had a return on equity of 33.79% and a net margin of 16.41%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the company earned $4.66 earnings per share. United Rentals’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, sell-side analysts forecast that United Rentals, Inc. will post 31.73 EPS for the current fiscal year.

About United Rentals

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United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.

See Also

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Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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