BlueMountain Capital Management LLC Acquires 6,482 Shares of United Rentals, Inc. (URI)

BlueMountain Capital Management LLC raised its holdings in United Rentals, Inc. (NYSE:URI) by 40.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,683 shares of the construction company’s stock after purchasing an additional 6,482 shares during the quarter. BlueMountain Capital Management LLC’s holdings in United Rentals were worth $2,557,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of URI. First Manhattan Co. increased its stake in United Rentals by 4,204.3% in the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after purchasing an additional 967 shares during the period. Huntington National Bank increased its stake in United Rentals by 14.2% in the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock valued at $163,000 after purchasing an additional 179 shares during the period. IFP Advisors Inc increased its stake in United Rentals by 40.4% in the second quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock valued at $187,000 after purchasing an additional 478 shares during the period. Pacer Advisors Inc. increased its stake in United Rentals by 8.8% in the second quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 145 shares during the period. Finally, Investment Centers of America Inc. acquired a new position in United Rentals in the first quarter valued at $203,000. Institutional investors own 93.66% of the company’s stock.

Shares of United Rentals, Inc. (URI) opened at 128.10 on Monday. The stock has a market cap of $10.83 billion, a P/E ratio of 18.61 and a beta of 2.42. The company’s 50-day moving average is $116.96 and its 200-day moving average is $115.87. United Rentals, Inc. has a 12-month low of $70.58 and a 12-month high of $134.28.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, July 19th. The construction company reported $2.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.09. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company earned $2.06 EPS. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts expect that United Rentals, Inc. will post $9.91 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Transcript Daily and is the property of of Transcript Daily. If you are reading this news story on another website, it was illegally stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://transcriptdaily.com/2017/09/18/bluemountain-capital-management-llc-acquires-6482-shares-of-united-rentals-inc-uri.html.

In related news, CFO William B. Plummer sold 5,301 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the completion of the transaction, the chief financial officer now owns 38,055 shares in the company, valued at approximately $4,880,934.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Kneeland sold 30,000 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the completion of the transaction, the insider now owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

A number of research analysts have commented on the stock. Jefferies Group LLC restated a “buy” rating and issued a $150.00 price objective on shares of United Rentals in a research note on Tuesday, September 5th. ValuEngine upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. UBS AG restated a “neutral” rating and issued a $125.00 price objective on shares of United Rentals in a research note on Sunday, August 20th. Stifel Nicolaus upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research note on Friday, August 18th. Finally, BidaskClub lowered shares of United Rentals from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $126.97.

United Rentals Company Profile

United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI).

Institutional Ownership by Quarter for United Rentals (NYSE:URI)

Receive News & Ratings for United Rentals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Rentals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply