Traynor Capital Management Inc. acquired a new stake in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,184 shares of the construction company’s stock, valued at approximately $262,000.
Other institutional investors have also recently modified their holdings of the company. Airain ltd boosted its position in shares of United Rentals by 434.8% in the first quarter. Airain ltd now owns 47,279 shares of the construction company’s stock valued at $5,912,000 after buying an additional 38,438 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new position in shares of United Rentals during the first quarter valued at about $791,000. Retirement Systems of Alabama boosted its position in shares of United Rentals by 75.4% in the first quarter. Retirement Systems of Alabama now owns 70,015 shares of the construction company’s stock valued at $8,755,000 after buying an additional 30,095 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of United Rentals during the first quarter valued at about $127,000. Finally, Columbus Circle Investors bought a new position in shares of United Rentals during the first quarter valued at about $8,383,000. 95.05% of the stock is owned by hedge funds and other institutional investors.
United Rentals, Inc. (URI) opened at 111.54 on Friday. The company has a market cap of $9.43 billion, a P/E ratio of 16.20 and a beta of 2.43. United Rentals, Inc. has a 52 week low of $70.58 and a 52 week high of $134.28. The stock has a 50 day moving average of $115.11 and a 200 day moving average of $117.36.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.09. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm earned $2.06 EPS. The company’s quarterly revenue 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 year.
URI has been the topic of several research analyst reports. Zacks Investment Research cut shares of United Rentals from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and set a $150.00 price target on shares of United Rentals in a research report on Friday, June 9th. Citigroup Inc. boosted their price target on shares of United Rentals from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Vetr upgraded shares of United Rentals from a “buy” rating to a “strong-buy” rating and set a $125.52 price target on the stock in a research report on Monday, May 1st. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of United Rentals in a research report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $124.50.
In other news, insider Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $120.77, for a total value of $3,623,100.00. Following the transaction, the insider now owns 302,292 shares of the company’s stock, valued at approximately $36,507,804.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.
About United Rentals
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.
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