Rampart Investment Management Company LLC grew its holdings in shares of United Rentals, Inc. (NYSE:URI) by 1,606.9% in the first quarter, Holdings Channel reports. The institutional investor owned 17,940 shares of the construction company’s stock after acquiring an additional 16,889 shares during the period. Rampart Investment Management Company LLC’s holdings in United Rentals were worth $3,099,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of URI. Amundi Pioneer Asset Management Inc. grew its holdings in shares of United Rentals by 42.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,524,419 shares of the construction company’s stock valued at $262,063,000 after buying an additional 450,646 shares during the last quarter. AGF Investments Inc. acquired a new position in shares of United Rentals during the fourth quarter valued at about $72,614,000. Capital Growth Management LP acquired a new position in shares of United Rentals during the fourth quarter valued at about $65,326,000. Allianz Asset Management GmbH grew its holdings in shares of United Rentals by 275.6% during the fourth quarter. Allianz Asset Management GmbH now owns 488,452 shares of the construction company’s stock valued at $83,969,000 after buying an additional 358,413 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of United Rentals by 21.2% during the first quarter. JPMorgan Chase & Co. now owns 1,576,525 shares of the construction company’s stock valued at $272,313,000 after buying an additional 275,754 shares during the last quarter. Hedge funds and other institutional investors own 85.73% of the company’s stock.
URI has been the subject of a number of analyst reports. ValuEngine upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Bank of America cut their price target on shares of United Rentals from $230.00 to $186.00 and set a “buy” rating on the stock in a report on Thursday, May 3rd. Finally, Morgan Stanley began coverage on shares of United Rentals in a report on Friday, March 2nd. They set an “overweight” rating and a $194.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $188.64.
United Rentals stock opened at $164.85 on Thursday. United Rentals, Inc. has a fifty-two week low of $100.62 and a fifty-two week high of $190.74. The stock has a market cap of $13.70 billion, a P/E ratio of 15.57, a PEG ratio of 0.57 and a beta of 2.55. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.92 and a current ratio of 0.97.
United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 18th. The construction company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.34 by $0.53. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.68 billion. United Rentals had a net margin of 20.23% and a return on equity of 39.19%. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 earnings per share. research analysts anticipate that United Rentals, Inc. will post 15.49 earnings per share for the current year.
United Rentals announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 18th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 9.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other United Rentals news, EVP Dale A. Asplund sold 1,229 shares of United Rentals stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $188.13, for a total value of $231,211.77. Following the sale, the executive vice president now owns 16,116 shares of the company’s stock, valued at $3,031,903.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $169.00, for a total transaction of $5,070,000.00. Following the completion of the sale, the chief executive officer now directly owns 249,925 shares in the company, valued at approximately $42,237,325. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,229 shares of company stock worth $14,695,212. Insiders own 1.00% of the company’s stock.
United Rentals Company Profile
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power, and Pump. The General Rentals segment engages in the rental of general construction and industrial equipment, such as 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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