Wells Fargo & Company MN reduced its stake in United Rentals, Inc. (NYSE:URI) by 17.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 331,158 shares of the construction company’s stock after selling 67,954 shares during the quarter. Wells Fargo & Company MN’s holdings in United Rentals were worth $37,835,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Icon Wealth Partners LLC purchased a new stake in United Rentals during the 1st quarter worth approximately $26,000. Doyle Wealth Management purchased a new stake in United Rentals during the 4th quarter worth approximately $28,000. CNB Bank purchased a new stake in United Rentals during the 1st quarter worth approximately $28,000. CSat Investment Advisory L.P. increased its stake in United Rentals by 160.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 279 shares of the construction company’s stock worth $29,000 after buying an additional 172 shares during the period. Finally, Ropes Wealth Advisors LLC purchased a new stake in United Rentals during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.
In other United Rentals news, Director Michael Kneeland sold 32,007 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $123.68, for a total value of $3,958,625.76. Following the sale, the director now directly owns 223,871 shares of the company’s stock, valued at approximately $27,688,365.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 233,261 shares of company stock worth $29,791,035. Insiders own 1.00% of the company’s stock.
Shares of NYSE:URI opened at $121.55 on Thursday. United Rentals, Inc. has a 52 week low of $94.28 and a 52 week high of $173.00. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 3.31. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 0.35 and a beta of 2.60.
United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 17th. The construction company reported $3.31 EPS for the quarter, beating the Zacks’ consensus estimate of $3.10 by $0.21. United Rentals had a net margin of 12.91% and a return on equity of 41.52%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the firm posted $2.87 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts forecast that United Rentals, Inc. will post 19.67 earnings per share for the current year.
URI has been the topic of several recent research reports. Standpoint Research downgraded shares of United Rentals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Zacks Investment Research raised shares of United Rentals from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research note on Wednesday, March 27th. OTR Global downgraded shares of United Rentals to a “positive” rating in a research note on Monday, April 1st. Morgan Stanley upped their target price on shares of United Rentals from $168.00 to $176.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of United Rentals in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. United Rentals currently has a consensus rating of “Hold” and a consensus price target of $156.91.
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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