Smith Asset Management Group LP reduced its position in shares of United Rentals, Inc. (NYSE:URI) by 14.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 303,130 shares of the construction company’s stock after selling 52,150 shares during the period. Smith Asset Management Group LP’s holdings in United Rentals were worth $34,166,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of United Rentals by 3,269.9% in the first quarter. BlackRock Inc. now owns 5,834,214 shares of the construction company’s stock worth $729,568,000 after buying an additional 5,661,088 shares during the period. JPMorgan Chase & Co. increased its position in shares of United Rentals by 114.6% in the first quarter. JPMorgan Chase & Co. now owns 2,539,634 shares of the construction company’s stock worth $317,582,000 after buying an additional 1,356,308 shares during the period. AQR Capital Management LLC increased its position in shares of United Rentals by 362.1% in the first quarter. AQR Capital Management LLC now owns 1,109,900 shares of the construction company’s stock worth $138,793,000 after buying an additional 869,711 shares during the period. Pioneer Investment Management Inc. increased its position in shares of United Rentals by 127.4% in the second quarter. Pioneer Investment Management Inc. now owns 990,759 shares of the construction company’s stock worth $111,669,000 after buying an additional 555,089 shares during the period. Finally, APG Asset Management N.V. increased its position in shares of United Rentals by 36.0% in the second quarter. APG Asset Management N.V. now owns 1,195,466 shares of the construction company’s stock worth $134,741,000 after buying an additional 316,256 shares during the period. 95.05% of the stock is owned by institutional investors and hedge funds.
Shares of United Rentals, Inc. (URI) opened at 111.62 on Friday. The firm has a market cap of $9.44 billion, a PE ratio of 16.21 and a beta of 2.43. The firm has a 50-day moving average of $114.89 and a 200 day moving average of $117.35. United Rentals, Inc. has a 52 week low of $70.58 and a 52 week high of $134.28.
United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.09. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share. Equities research analysts predict that United Rentals, Inc. will post $9.91 EPS for the current fiscal year.
A number of research analysts have recently commented on URI shares. Zacks Investment Research downgraded shares of United Rentals from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $150.00 price objective on shares of United Rentals in a research report on Friday, June 9th. Citigroup Inc. lifted their price objective on shares of United Rentals from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Vetr raised shares of United Rentals from a “buy” rating to a “strong-buy” rating and set a $125.52 price objective for the company in a research report on Monday, May 1st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of United Rentals in a research report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $124.50.
In related news, insider Michael Kneeland sold 30,000 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the completion of the transaction, the insider now owns 302,292 shares in the company, valued at $36,507,804.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.
United Rentals Company 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.
Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI).
What are top analysts saying about United Rentals Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for United Rentals Inc. and related companies.