Morse Asset Management Inc lessened its position in shares of United Rentals, Inc. (NYSE:URI) by 32.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,700 shares of the construction company’s stock after selling 2,780 shares during the quarter. Morse Asset Management Inc’s holdings in United Rentals were worth $710,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of United Rentals by 0.4% during the second quarter. Vanguard Group Inc. now owns 8,416,326 shares of the construction company’s stock valued at $1,116,257,000 after acquiring an additional 32,551 shares during the period. Lyrical Asset Management LP lifted its stake in shares of United Rentals by 38.0% during the second quarter. Lyrical Asset Management LP now owns 2,220,998 shares of the construction company’s stock valued at $294,571,000 after acquiring an additional 611,715 shares during the period. Bank of America Corp DE lifted its stake in shares of United Rentals by 4.3% during the second quarter. Bank of America Corp DE now owns 1,291,332 shares of the construction company’s stock valued at $171,271,000 after acquiring an additional 53,343 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of United Rentals by 38,658.8% during the second quarter. Nuveen Asset Management LLC now owns 932,150 shares of the construction company’s stock valued at $123,631,000 after acquiring an additional 929,745 shares during the period. Finally, Morgan Stanley lifted its stake in shares of United Rentals by 10.8% during the second quarter. Morgan Stanley now owns 922,224 shares of the construction company’s stock valued at $122,316,000 after acquiring an additional 89,687 shares during the period. 89.57% of the stock is currently owned by institutional investors and hedge funds.
NYSE:URI traded up $1.04 during mid-day trading on Monday, hitting $156.36. The company had a trading volume of 1,172,290 shares, compared to its average volume of 1,482,789. United Rentals, Inc. has a fifty-two week low of $94.28 and a fifty-two week high of $155.74. The business’s fifty day moving average is $128.39 and its two-hundred day moving average is $124.93. The firm has a market cap of $11.75 billion, a P/E ratio of 9.62, a P/E/G ratio of 0.64 and a beta of 2.68. 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 announced its quarterly earnings results on Wednesday, October 16th. The construction company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.22. United Rentals had a return on equity of 42.89% and a net margin of 12.45%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company earned $4.74 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities analysts forecast that United Rentals, Inc. will post 19.28 earnings per share for the current year.
URI has been the topic of several research reports. Royal Bank of Canada set a $150.00 price target on United Rentals and gave the company a “buy” rating in a research note on Friday, October 18th. Macquarie set a $99.00 price target on United Rentals and gave the company a “sell” rating in a research note on Friday, July 19th. Citigroup reaffirmed a “buy” rating and set a $160.00 price target on shares of United Rentals in a research note on Wednesday, September 11th. Zacks Investment Research raised United Rentals from a “sell” rating to a “hold” rating and set a $119.00 target price on the stock in a research note on Friday, October 11th. Finally, ValuEngine lowered United Rentals from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $141.90.
In other United Rentals news, Director Jason D. Papastavrou sold 3,036 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $150.05, for a total value of $455,551.80. Following the completion of the sale, the director now directly owns 181,973 shares in the company, valued at $27,305,048.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Filippo Passerini purchased 2,000 shares of the stock in a transaction on Monday, August 19th. The stock was acquired at an average price of $110.37 per share, with a total value of $220,740.00. Following the completion of the acquisition, the director now directly owns 8,783 shares of the company’s stock, valued at $969,379.71. The disclosure for this purchase can be found here. Insiders sold 28,770 shares of company stock valued at $4,292,710 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.
United Rentals Company 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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