Meeder Asset Management Inc. boosted its stake in shares of United Rentals, Inc. (NYSE:URI) by 5.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,125 shares of the construction company’s stock after purchasing an additional 292 shares during the period. Meeder Asset Management Inc.’s holdings in United Rentals were worth $812,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Clearbridge Investments LLC grew its position in shares of United Rentals by 1.2% during the 1st quarter. Clearbridge Investments LLC now owns 470,588 shares of the construction company’s stock valued at $53,765,000 after acquiring an additional 5,446 shares during the period. DNB Asset Management AS lifted its stake in United Rentals by 2.8% in the 2nd quarter. DNB Asset Management AS now owns 26,840 shares of the construction company’s stock valued at $3,560,000 after buying an additional 740 shares in the last quarter. Advisory Services Network LLC lifted its stake in United Rentals by 29.2% in the 1st quarter. Advisory Services Network LLC now owns 10,898 shares of the construction company’s stock valued at $1,246,000 after buying an additional 2,465 shares in the last quarter. Pendal Group Ltd purchased a new position in United Rentals in the 2nd quarter valued at about $465,000. Finally, Putnam FL Investment Management Co. lifted its stake in United Rentals by 30.9% in the 2nd quarter. Putnam FL Investment Management Co. now owns 3,290 shares of the construction company’s stock valued at $436,000 after buying an additional 777 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.
URI has been the topic of a number of research reports. Royal Bank of Canada set a $164.00 price target on shares of United Rentals and gave the company a “buy” rating in a research note on Friday, July 19th. ValuEngine lowered shares of United Rentals from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Macquarie set a $99.00 price target on shares of United Rentals and gave the company a “sell” rating in a research note on Friday, July 19th. UBS Group set a $170.00 price target on shares of United Rentals and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $150.82.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 17th. The construction company reported $4.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.48 by $0.26. United Rentals had a net margin of 12.32% and a return on equity of 41.97%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company posted $3.85 EPS. The business’s revenue was up 21.1% on a year-over-year basis. On average, equities analysts anticipate that United Rentals, Inc. will post 19.3 earnings per share for the current fiscal year.
In other news, Director Filippo Passerini purchased 2,000 shares of United Rentals stock in a transaction dated Monday, August 19th. The shares were purchased at an average price of $110.37 per share, with a total value of $220,740.00. Following the transaction, the director now owns 8,783 shares in the company, valued at $969,379.71. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jose B. Alvarez purchased 238 shares of United Rentals stock in a transaction dated Wednesday, July 24th. The shares were purchased at an average cost of $125.98 per share, for a total transaction of $29,983.24. The disclosure for this purchase can be found here. Insiders acquired a total of 7,238 shares of company stock worth $842,073 over the last three months. Corporate insiders own 1.00% of the company’s stock.
About United Rentals
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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