Trustmark National Bank Trust Department bought a new position in shares of United Rentals, Inc. (NYSE:URI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,350 shares of the construction company’s stock, valued at approximately $1,279,000.
Other hedge funds have also modified their holdings of the company. First Manhattan Co. raised its stake in shares of United Rentals by 4,204.3% during the 2nd quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock worth $111,000 after buying an additional 967 shares in the last quarter. Huntington National Bank grew its holdings in shares of United Rentals by 14.2% in the 2nd quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock worth $163,000 after acquiring an additional 179 shares during the period. IFP Advisors Inc grew its holdings in shares of United Rentals by 40.4% in the 2nd quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock worth $187,000 after acquiring an additional 478 shares during the period. Pacer Advisors Inc. grew its holdings in shares of United Rentals by 8.8% in the 2nd quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock worth $202,000 after acquiring an additional 145 shares during the period. Finally, Investment Centers of America Inc. acquired a new stake in shares of United Rentals in the 1st quarter worth approximately $203,000. 93.66% of the stock is owned by institutional investors and hedge funds.
URI has been the topic of a number of research reports. Zacks Investment Research cut United Rentals from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $150.00 price target on shares of United Rentals in a report on Friday, June 9th. Citigroup Inc. upped their price target on United Rentals from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Royal Bank Of Canada restated a “hold” rating on shares of United Rentals in a report on Wednesday, May 24th. Finally, UBS AG restated a “neutral” rating and issued a $125.00 price target on shares of United Rentals in a report on Sunday, August 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. United Rentals has an average rating of “Buy” and a consensus target price of $126.97.
In other United Rentals news, CFO William B. Plummer sold 5,301 shares of United Rentals stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the transaction, the chief financial officer now owns 38,055 shares in the company, valued at $4,880,934.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction that occurred on Friday, July 21st. The stock was 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 approximately $36,507,804.84. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Shares of United Rentals, Inc. (URI) traded down 0.3231% during midday trading on Tuesday, reaching $129.0118. The company’s stock had a trading volume of 266,821 shares. United Rentals, Inc. has a 12 month low of $70.58 and a 12 month high of $134.28. The stock’s 50 day moving average is $117.24 and its 200 day moving average is $115.66. The stock has a market capitalization of $10.91 billion, a PE ratio of 18.7408 and a beta of 2.42.
United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.09. The firm had revenue of $1.60 billion for 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 quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 earnings per share. On average, analysts forecast that United Rentals, Inc. will post $9.91 EPS for the current fiscal year.
About United Rentals
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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