AMG National Trust Bank lifted its position in United Rentals, Inc. (NYSE:URI – Get Rating) by 16.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,630 shares of the construction company’s stock after buying an additional 375 shares during the quarter. AMG National Trust Bank’s holdings in United Rentals were worth $710,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in URI. Healthcare of Ontario Pension Plan Trust Fund boosted its position in United Rentals by 7,691.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,506 shares of the construction company’s stock worth $1,245,000 after purchasing an additional 3,461 shares during the period. Raymond James Trust N.A. boosted its position in United Rentals by 14.6% during the first quarter. Raymond James Trust N.A. now owns 2,296 shares of the construction company’s stock worth $815,000 after purchasing an additional 293 shares during the period. Cibc World Market Inc. boosted its position in United Rentals by 16.8% during the first quarter. Cibc World Market Inc. now owns 7,941 shares of the construction company’s stock worth $2,821,000 after purchasing an additional 1,140 shares during the period. Sei Investments Co. boosted its position in United Rentals by 50.1% during the first quarter. Sei Investments Co. now owns 1,914 shares of the construction company’s stock worth $678,000 after purchasing an additional 639 shares during the period. Finally, Prudential PLC bought a new position in United Rentals during the first quarter worth $560,000. 89.65% of the stock is owned by institutional investors.
Insider Buying and Selling at United Rentals
In other United Rentals news, Director Jose B. Alvarez bought 177 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were purchased at an average price of $344.65 per share, for a total transaction of $61,003.05. Following the completion of the transaction, the director now directly owns 10,660 shares in the company, valued at approximately $3,673,969. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.
United Rentals Stock Up 0.5 %
United Rentals (NYSE:URI – Get Rating) last posted its quarterly earnings results on Wednesday, October 26th. The construction company reported $9.27 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.27. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.09 billion. United Rentals had a return on equity of 35.38% and a net margin of 17.51%. Sell-side analysts anticipate that United Rentals, Inc. will post 32.6 EPS for the current fiscal year.
United Rentals declared that its board has initiated a share buyback plan on Wednesday, October 26th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on URI shares. KeyCorp lifted their target price on United Rentals from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 22nd. UBS Group lifted their target price on United Rentals from $365.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, November 16th. Robert W. Baird lifted their target price on United Rentals from $318.00 to $365.00 in a report on Monday, November 14th. Wells Fargo & Company lifted their target price on United Rentals from $435.00 to $440.00 and gave the stock an “overweight” rating in a report on Tuesday, January 10th. Finally, StockNews.com downgraded United Rentals from a “buy” rating to a “hold” rating in a report on Friday, January 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $394.10.
About United Rentals
United Rentals, Inc engages in the equipment rental business. The company rents equipment to construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities. It operates through the General Rentals and Specialty segments. The General Rentals segment includes the rental of general construction and industrial equipment, earthmoving equipment, material handling equipment, aerial work platforms, and general tools and light equipment.
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