Texas Permanent School Fund decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,746 shares of the construction company’s stock after selling 889 shares during the period. Texas Permanent School Fund’s holdings in United Rentals were worth $2,676,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in United Rentals by 2.8% in the first quarter. Vanguard Group Inc. now owns 9,153,447 shares of the construction company’s stock worth $1,144,637,000 after buying an additional 252,299 shares in the last quarter. BlackRock Inc. increased its position in 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 in the last quarter. FMR LLC increased its position in United Rentals by 5.5% in the first quarter. FMR LLC now owns 3,662,214 shares of the construction company’s stock worth $457,960,000 after buying an additional 191,311 shares in the last quarter. JPMorgan Chase & Co. increased its position in 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 in the last quarter. Finally, APG Asset Management N.V. increased its position in 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 in the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.
United Rentals, Inc. (NYSE URI) traded up 0.04% during mid-day trading on Friday, reaching $111.86. 1,411,868 shares of the company’s stock traded hands. The company has a market cap of $9.46 billion, a P/E ratio of 16.25 and a beta of 2.43. The stock has a 50 day moving average of $115.82 and a 200 day moving average of $116.99. United Rentals, Inc. has a 12-month low of $70.58 and a 12-month 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, topping the Zacks’ consensus estimate of $2.28 by $0.09. The business 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 company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.06 earnings per share. On average, equities research analysts predict that United Rentals, Inc. will post $9.91 earnings per share for the current fiscal year.
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URI has been the subject of a number of research reports. 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 set a $150.00 target price on shares of United Rentals in a research report on Friday, June 9th. Citigroup Inc. increased their target price 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 upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating and set a $125.52 price target on the stock in a research note on Monday, May 1st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of United Rentals in a research note on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. United Rentals has an average rating of “Buy” and a consensus target price of $124.68.
In other United Rentals news, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $120.77, for a total value of $3,623,100.00. Following the completion of the transaction, the insider now directly 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 accessible through the SEC website. 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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