Neuberger Berman Group LLC decreased its position in United Rentals, Inc. (NYSE:URI) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 829,323 shares of the construction company’s stock after selling 108,382 shares during the period. Neuberger Berman Group LLC owned about 1.15% of United Rentals worth $272,968,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of URI. Avantax Advisory Services Inc. acquired a new stake in shares of United Rentals in the first quarter valued at about $379,000. Van ECK Associates Corp acquired a new stake in shares of United Rentals in the first quarter valued at about $41,000. Distillate Capital Partners LLC lifted its stake in shares of United Rentals by 15.3% in the first quarter. Distillate Capital Partners LLC now owns 9,996 shares of the construction company’s stock valued at $3,292,000 after purchasing an additional 1,328 shares during the period. Greystone Financial Group LLC lifted its stake in shares of United Rentals by 166.6% in the first quarter. Greystone Financial Group LLC now owns 3,693 shares of the construction company’s stock valued at $1,257,000 after purchasing an additional 2,308 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in United Rentals by 56.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 204,250 shares of the construction company’s stock worth $67,262,000 after acquiring an additional 73,387 shares during the last quarter. 95.69% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on URI. Citigroup upgraded shares of United Rentals from a “neutral” rating to a “buy” rating in a research report on Wednesday. Barclays lifted their target price on shares of United Rentals from $190.00 to $255.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 16th. They noted that the move was a valuation call. Argus lifted their target price on shares of United Rentals from $280.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, May 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of United Rentals from $280.00 to $348.00 and gave the company a “hold” rating in a research report on Tuesday, April 13th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of United Rentals from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. United Rentals has a consensus rating of “Hold” and an average price target of $286.77.
URI opened at $308.35 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.79. United Rentals, Inc. has a 52-week low of $139.10 and a 52-week high of $354.60. The stock’s 50 day simple moving average is $323.44. The stock has a market capitalization of $22.32 billion, a P/E ratio of 23.94, a P/E/G ratio of 1.08 and a beta of 2.06.
United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 28th. The construction company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.35. United Rentals had a net margin of 10.87% and a return on equity of 29.36%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm earned $3.35 earnings per share. United Rentals’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that United Rentals, Inc. will post 21.07 EPS for the current year.
In other news, CFO Jessica Graziano sold 2,452 shares of the company’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $351.65, for a total value of $862,245.80. Following the completion of the transaction, the chief financial officer now directly owns 15,858 shares in the company, valued at $5,576,465.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by insiders.
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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