United Rentals (URI) Shares Down 6.8%

Shares of United Rentals, Inc. (NYSE:URI) dropped 6.8% on Friday . The stock traded as low as $110.89 and last traded at $110.96. Approximately 2,658,807 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 1,621,384 shares. The stock had previously closed at $119.06.

URI has been the topic of several analyst reports. Zacks Investment Research cut shares of United Rentals from a “buy” rating to a “hold” rating in a research note on Friday, January 11th. Standpoint Research cut shares of United Rentals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Finally, Barclays initiated coverage on shares of United Rentals in a research report on Friday, December 14th. They set an “equal weight” rating and a $130.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $157.09.

The stock has a market capitalization of $8.83 billion, a PE ratio of 6.82, a PEG ratio of 0.32 and a beta of 2.52. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 3.19.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 23rd. The construction company reported $4.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.77 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.22 billion. United Rentals had a net margin of 13.62% and a return on equity of 41.91%. The business’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.34 EPS. On average, equities analysts anticipate that United Rentals, Inc. will post 19.31 earnings per share for the current year.

In related news, CFO Jessica Graziano sold 547 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $123.36, for a total value of $67,477.92. Following the sale, the chief financial officer now owns 11,247 shares in the company, valued at approximately $1,387,429.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Kneeland sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $132.73, for a total transaction of $3,981,900.00. Following the completion of the sale, the chief executive officer now owns 202,237 shares in the company, valued at approximately $26,842,917.01. The disclosure for this sale can be found here. Insiders sold a total of 64,347 shares of company stock worth $8,276,837 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of URI. Oregon Public Employees Retirement Fund increased its stake in United Rentals by 8,780.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,322,512 shares of the construction company’s stock valued at $62,000 after buying an additional 6,251,317 shares during the last quarter. PointState Capital LP bought a new position in shares of United Rentals during the 3rd quarter valued at approximately $169,517,000. Norges Bank bought a new position in shares of United Rentals during the 4th quarter valued at approximately $76,188,000. Amundi Pioneer Asset Management Inc. grew its position in shares of United Rentals by 37.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,375,290 shares of the construction company’s stock valued at $243,539,000 after acquiring an additional 641,130 shares during the period. Finally, Anchor Bolt Capital LP bought a new position in shares of United Rentals during the 4th quarter valued at approximately $60,853,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

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About United Rentals (NYSE:URI)

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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