AE Wealth Management LLC increased its holdings of United Rentals, Inc. (NYSE:URI – Get Rating) stock by 31.5% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission (SEC). ) . The company held 16,719 shares of the construction company after buying an additional 4,001 shares during the quarter. AE Wealth Management LLC’s holdings in United Rentals were worth $5,939,000 when it last filed with the SEC.
Several other hedge funds also changed their positions in the company. Nordea Investment Management AB increased its stake in United Rentals shares by 3.2% during the 4th quarter. Nordea Investment Management AB now owns 1,105,138 shares of the construction company worth $361,281,000 after purchasing an additional 34,211 shares during the period. Mackenzie Financial Corp increased its stake in United Rentals by 4.2% in the fourth quarter. Mackenzie Financial Corp now owns 718,467 shares of the construction company valued at $238,739,000 after buying an additional 29,207 shares in the last quarter. Norges Bank acquired a new position in United Rentals in Q4 worth $238,172,000. Bessemer Group Inc. increased its stake in United Rentals by 1.8% in the 4th quarter. Bessemer Group Inc. now owns 534,951 shares of the construction company valued at $177,760,000 after purchasing an additional 9,402 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in United Rentals by 18.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,039 shares of the construction company valued at $144,891,000 after purchasing an additional 68,782 shares in the last quarter. 89.70% of the shares are held by institutional investors and hedge funds.
In other United Rentals news, Director Shiv Singh bought 173 shares in a trade dated Monday, May 9. The shares were acquired at an average cost of $288.65 per share, for a total transaction of $49,936.45. Following the acquisition, the administrator now owns 6,993 shares of the company, valued at approximately $2,018,529.45. The acquisition was disclosed in a legal filing with the SEC, which is available via this link. Additionally, COO Dale A. Asplund sold 6,575 shares of the company in a trade dated Friday, April 29. The shares were sold at an average price of $318.58, for a total value of $2,094,663.50. Following the transaction, the chief operating officer now owns 26,666 shares of the company, valued at $8,495,254.28. The disclosure of this sale can be found here. Company insiders hold 0.53% of the company’s shares.
The URI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered its price target on United Rentals from $421.00 to $396.00 in a Friday, April 29 research note. UBS Group reduced its price target on United Rentals to $400.00 and set an “na” rating for the company in a Tuesday, May 17 research note. Wells Fargo & Company launched coverage on United Rentals in a research note on Friday, March 11. They issued an “overweight” rating and a price target of $425.00 for the company. OTR Global downgraded United Rentals to a “positive” rating in a Wednesday, June 22 research note. Finally, StockNews.com downgraded United Rentals from a “buy” rating to a “hold” rating in a research note on Thursday. One equity research analyst gave the stock a sell rating, five gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $388.00.
Shares of NYSE:URI opened at $242.91 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt ratio of 1.40. The company has a fifty-day moving average of $281.94 and a two-hundred-day moving average of $312.45. The stock has a market capitalization of $17.40 billion, a P/E ratio of 11.40, a PEG ratio of 0.48 and a beta of 1.81. United Rentals, Inc. has a 52-week minimum of $230.54 and a 52-week maximum of $414.99.
United Rentals (NYSE:URI – Get Rating) last released its quarterly results on Wednesday, April 27. The construction company reported earnings per share of $5.73 for the quarter, beating analysts’ consensus estimate of $5.28 by $0.45. The company posted revenue of $2.52 billion in the quarter, versus $2.44 billion expected by analysts. United Rentals recorded a return on equity of 31.29% and a net margin of 15.22%. The company’s revenue increased by 22.7% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $3.45. On average, stock analysts expect United Rentals, Inc. to post earnings per share of 29.79 for the current year.
About United Rentals (Get an assessment)
United Rentals, Inc., through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. 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 and scissor lifts; and general tools and light equipment including pressure washers, water pumps and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities.
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