United Rentals (NYSE:URI) Issues Quarterly Earnings Results

United Rentals (NYSE:URI – Get Rating) released its quarterly earnings data on Wednesday. The construction company reported $7.86 EPS for the quarter, beating the consensus estimate of $6.57 by $1.29, Briefing.com reports. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.71 billion. United Rentals had a net margin of 15.22% and a return on equity of 31.29%. The company’s revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.66 earnings per share.

United Rentals Price Performance

URI traded up $9.78 on Thursday, reaching $297.01. The company had a trading volume of 12,626 shares, compared to its average volume of 772,374. The business has a 50 day simple moving average of $266.31 and a 200 day simple moving average of $302.83. The company has a market cap of $21.27 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 0.58 and a beta of 1.83. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.71 and a current ratio of 0.77. United Rentals has a 52-week low of $230.54 and a 52-week high of $414.99.

Insider Activity at United Rentals

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd grew its holdings in shares of United Rentals by 202.5% in the first quarter. Covestor Ltd now owns 121 shares of the construction company’s stock worth $43,000 after purchasing an additional 81 shares during the last quarter. High Net Worth Advisory Group LLC bought a new position in shares of United Rentals in the first quarter worth approximately $65,000. Evercore Wealth Management LLC bought a new position in shares of United Rentals in the first quarter worth approximately $209,000. Sequoia Financial Advisors LLC bought a new position in shares of United Rentals in the first quarter worth approximately $217,000. Finally, Fund Management at Engine No. 1 LLC bought a new position in shares of United Rentals in the first quarter worth approximately $218,000. 89.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. OTR Global downgraded shares of United Rentals to a “positive” rating in a report on Wednesday, June 22nd. KeyCorp lowered their price target on shares of United Rentals from $420.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday, July 12th. Morgan Stanley reissued a “maintains” rating on shares of United Rentals in a report on Thursday. UBS Group lowered their price target on shares of United Rentals to $400.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Finally, StockNews.com downgraded shares of United Rentals from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals currently has an average rating of “Hold” and a consensus target price of $359.20.

United Rentals Company 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.