TD Asset Management Inc. increased its holdings in shares of United Rentals, Inc. (NYSE:URI) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,410 shares of the construction company’s stock after purchasing an additional 2,075 shares during the quarter. TD Asset Management Inc.’s holdings in United Rentals were worth $3,016,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in United Rentals by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,872,326 shares of the construction company’s stock valued at $306,312,000 after acquiring an additional 112,939 shares in the last quarter. PointState Capital LP acquired a new position in United Rentals in the 3rd quarter valued at about $169,517,000. American Century Companies Inc. boosted its stake 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 buying an additional 176,951 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of United Rentals by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 737,831 shares of the construction company’s stock valued at $120,727,000 after buying an additional 5,354 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of United Rentals by 16.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 682,750 shares of the construction company’s stock valued at $111,697,000 after buying an additional 95,677 shares during the period. 86.57% of the stock is owned by institutional investors.
URI stock traded down $0.96 during trading on Wednesday, hitting $124.34. 1,011,343 shares of the company’s stock were exchanged, compared to its average volume of 1,589,027. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 0.40 and a beta of 2.51. United Rentals, Inc. has a 52-week low of $94.28 and a 52-week high of $190.30. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 3.19.
United Rentals (NYSE:URI) last posted its earnings results on Wednesday, January 23rd. The construction company reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.22 billion. United Rentals had a return on equity of 41.91% and a net margin of 13.62%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.34 earnings per share. As a group, sell-side analysts anticipate that United Rentals, Inc. will post 19.31 EPS for the current year.
In related news, CEO Michael Kneeland sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $132.73, for a total transaction of $3,981,900.00. Following the completion of the sale, the chief executive officer now owns 202,237 shares in the company, valued at $26,842,917.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jessica Graziano sold 547 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $123.36, for a total value of $67,477.92. Following the completion of the sale, the chief financial officer now owns 11,247 shares of the company’s stock, valued at approximately $1,387,429.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,347 shares of company stock valued at $8,276,837. 1.00% of the stock is owned by company insiders.
URI has been the subject of several recent research reports. Zacks Investment Research reiterated a “hold” rating and issued a $114.00 price objective on shares of United Rentals in a research note on Monday, December 31st. Barclays initiated coverage on United Rentals in a research note on Friday, December 14th. They issued an “equal weight” rating and a $130.00 price objective for the company. Standpoint Research cut United Rentals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Finally, UBS Group set a $180.00 price objective on United Rentals and gave the company a “buy” rating in a research note on Thursday, November 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $157.09.
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United Rentals Profile
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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