United Rentals, Inc. (NYSE:URI) Shares Bought by Clearstead Advisors LLC

Clearstead Advisors LLC raised its stake in United Rentals, Inc. (NYSE:URIGet Rating) by 75.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,123 shares of the construction company’s stock after purchasing an additional 910 shares during the quarter. Clearstead Advisors LLC’s holdings in United Rentals were worth $754,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in URI. Norges Bank acquired a new stake in shares of United Rentals during the fourth quarter worth about $238,172,000. Marshall Wace LLP acquired a new stake in shares of United Rentals during the fourth quarter worth about $87,926,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of United Rentals during the fourth quarter worth about $58,220,000. Schonfeld Strategic Advisors LLC lifted its position in shares of United Rentals by 6,738.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 122,197 shares of the construction company’s stock worth $40,605,000 after purchasing an additional 120,410 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of United Rentals by 179.6% during the first quarter. Assenagon Asset Management S.A. now owns 186,773 shares of the construction company’s stock worth $66,344,000 after purchasing an additional 119,981 shares in the last quarter. Institutional investors and hedge funds own 89.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on URI. KeyCorp reduced their price target on shares of United Rentals from $420.00 to $355.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. StockNews.com lowered shares of United Rentals from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of United Rentals from $421.00 to $396.00 in a research note on Friday, April 29th. UBS Group cut their target price on shares of United Rentals to $400.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Finally, Morgan Stanley cut their target price on shares of United Rentals from $368.00 to $292.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, United Rentals currently has an average rating of “Hold” and a consensus target price of $359.20.

Insider Activity

In other news, COO Dale A. Asplund sold 6,575 shares of the firm’s stock in a transaction on Friday, April 29th. The stock was sold at an average price of $318.58, for a total value of $2,094,663.50. Following the completion of the transaction, the chief operating officer now owns 26,666 shares in the company, valued at $8,495,254.28. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Dale A. Asplund sold 6,575 shares of United Rentals stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $318.58, for a total transaction of $2,094,663.50. Following the completion of the sale, the chief operating officer now owns 26,666 shares in the company, valued at approximately $8,495,254.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shiv Singh acquired 173 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were bought at an average price of $288.65 per share, with a total value of $49,936.45. Following the transaction, the director now owns 6,993 shares in the company, valued at approximately $2,018,529.45. The disclosure for this purchase can be found here. Company insiders own 0.53% of the company’s stock.

United Rentals Price Performance

Shares of NYSE URI opened at $287.23 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.77 and a quick ratio of 0.71. The stock has a fifty day moving average price of $266.31 and a 200 day moving average price of $302.83. United Rentals, Inc. has a 1-year low of $230.54 and a 1-year high of $414.99. The company has a market cap of $20.57 billion, a PE ratio of 13.48, a P/E/G ratio of 0.58 and a beta of 1.83.

United Rentals (NYSE:URIGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The construction company reported $7.86 earnings per share for the quarter, beating analysts’ consensus estimates of $6.57 by $1.29. United Rentals had a return on equity of 31.29% and a net margin of 15.22%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the business posted $4.66 earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts forecast that United Rentals, Inc. will post 29.65 EPS for the current year.

United Rentals Profile

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United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.

See Also

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:URIGet Rating).

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

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