Comerica Bank Cuts Stock Holdings in United Rentals, Inc. (NYSE:URI)

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Comerica Bank reduced its position in shares of United Rentals, Inc. (NYSE:URI) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,629 shares of the construction company’s stock after selling 91 shares during the period. Comerica Bank’s holdings in United Rentals were worth $2,063,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of URI. Nuveen Asset Management LLC increased its stake in United Rentals by 38,658.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 932,150 shares of the construction company’s stock worth $123,631,000 after buying an additional 929,745 shares in the last quarter. Lyrical Asset Management LP increased its stake in United Rentals by 38.0% during the 2nd quarter. Lyrical Asset Management LP now owns 2,220,998 shares of the construction company’s stock worth $294,571,000 after buying an additional 611,715 shares in the last quarter. Strs Ohio increased its stake in United Rentals by 379.7% during the 3rd quarter. Strs Ohio now owns 336,052 shares of the construction company’s stock worth $41,885,000 after buying an additional 266,000 shares in the last quarter. Atria Investments LLC increased its stake in United Rentals by 4,277.2% during the 2nd quarter. Atria Investments LLC now owns 266,617 shares of the construction company’s stock worth $2,847,000 after buying an additional 260,526 shares in the last quarter. Finally, Telemark Asset Management LLC purchased a new stake in United Rentals during the 2nd quarter worth approximately $26,526,000. Institutional investors own 89.22% of the company’s stock.

URI opened at $152.32 on Friday. United Rentals, Inc. has a one year low of $94.28 and a one year high of $157.70. The stock has a market capitalization of $11.75 billion, a PE ratio of 9.37, a P/E/G ratio of 0.68 and a beta of 2.68. The business’s 50 day moving average price is $131.06 and its 200 day moving average price is $125.33. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.66 and a current ratio of 0.71.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 16th. The construction company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.74 by $0.22. United Rentals had a return on equity of 42.89% and a net margin of 12.45%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the firm posted $4.74 earnings per share. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts forecast that United Rentals, Inc. will post 19.28 earnings per share for the current fiscal year.

In related news, SVP Jeffrey J. Fenton sold 2,735 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $132.53, for a total value of $362,469.55. Following the transaction, the senior vice president now directly owns 33,819 shares in the company, valued at $4,482,032.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Kneeland sold 22,999 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $151.08, for a total value of $3,474,688.92. Following the completion of the transaction, the director now owns 181,973 shares in the company, valued at $27,492,480.84. The disclosure for this sale can be found here. Insiders sold 28,770 shares of company stock worth $4,292,710 over the last quarter. 1.00% of the stock is currently owned by insiders.

Several research firms have commented on URI. Deutsche Bank set a $128.00 price objective on United Rentals and gave the stock a “hold” rating in a research note on Friday, July 19th. Buckingham Research reiterated a “buy” rating and set a $180.00 price objective (up from $170.00) on shares of United Rentals in a research note on Monday. Royal Bank of Canada set a $150.00 price objective on United Rentals and gave the stock a “buy” rating in a research note on Friday, October 18th. Goldman Sachs Group boosted their price objective on United Rentals from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Macquarie set a $99.00 price target on United Rentals and gave the company a “sell” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. United Rentals has a consensus rating of “Hold” and an average target price of $141.90.

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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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).

Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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