Macguire Cheswick & Tuttle Investment Counsel LLC grew its position in United Rentals, Inc. (NYSE:URI) by 3.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 62,055 shares of the construction company’s stock after acquiring an additional 2,250 shares during the period. United Rentals accounts for approximately 1.7% of Macguire Cheswick & Tuttle Investment Counsel LLC’s investment portfolio, making the stock its 22nd biggest position. Macguire Cheswick & Tuttle Investment Counsel LLC owned 0.07% of United Rentals worth $8,610,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Boys Arnold & Co. Inc. lifted its stake in shares of United Rentals by 9.5% in the 3rd quarter. Boys Arnold & Co. Inc. now owns 4,892 shares of the construction company’s stock valued at $679,000 after acquiring an additional 423 shares during the last quarter. Victory Capital Management Inc. increased its holdings in United Rentals by 42.9% in the third quarter. Victory Capital Management Inc. now owns 565,560 shares of the construction company’s stock valued at $78,466,000 after purchasing an additional 169,774 shares during the period. Traynor Capital Management Inc. increased its holdings in United Rentals by 43.2% in the third quarter. Traynor Capital Management Inc. now owns 3,127 shares of the construction company’s stock valued at $431,000 after purchasing an additional 943 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in United Rentals in the third quarter valued at $1,423,000. Finally, Harbor Advisors LLC acquired a new stake in United Rentals in the third quarter valued at $208,000. Institutional investors own 93.28% of the company’s stock.
Shares of United Rentals, Inc. (NYSE URI) traded up 1.212% during trading on Wednesday, reaching $143.195. 424,792 shares of the company traded hands. United Rentals, Inc. has a 12-month low of $70.58 and a 12-month high of $147.60. The stock has a market capitalization of $12.11 billion, a P/E ratio of 20.801 and a beta of 2.46. The firm’s 50 day moving average is $138.42 and its 200-day moving average is $119.37.
United Rentals (NYSE:URI) last announced its quarterly earnings data 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 business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. United Rentals had a net margin of 9.64% and a return on equity of 44.81%. The business’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 earnings per share. On average, equities research analysts anticipate that United Rentals, Inc. will post $10.39 earnings per share for the current fiscal year.
United Rentals declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 18th that permits the company to repurchase $373.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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A number of research firms recently weighed in on URI. Citigroup Inc. increased their price objective on United Rentals from $130.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 21st. Axiom Securities restated a “sell” rating on shares of United Rentals in a report on Wednesday, July 26th. Stifel Nicolaus restated a “hold” rating on shares of United Rentals in a report on Friday, July 21st. Bank of America Corporation restated a “buy” rating and issued a $145.00 price objective (up from $130.00) on shares of United Rentals in a report on Thursday, July 20th. Finally, BidaskClub upgraded United Rentals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $144.97.
In other news, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were 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 in the company, valued at $39,406,098.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Filippo Passerini sold 3,308 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $143.24, for a total transaction of $473,837.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,609 shares of company stock worth $5,495,344. Corporate insiders own 1.20% of the company’s stock.
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.
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