Koshinski Asset Management Inc. reduced its holdings in United Rentals, Inc. (NYSE:URI) by 24.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,955 shares of the construction company’s stock after selling 940 shares during the quarter. Koshinski Asset Management Inc.’s holdings in United Rentals were worth $440,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Selway Asset Management raised its holdings in shares of United Rentals by 2.9% during the first quarter. Selway Asset Management now owns 3,550 shares of the construction company’s stock worth $365,000 after acquiring an additional 100 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of United Rentals during the 4th quarter worth about $4,253,000. First Bank & Trust lifted its holdings in shares of United Rentals by 32.4% during the 1st quarter. First Bank & Trust now owns 499 shares of the construction company’s stock valued at $51,000 after buying an additional 122 shares during the last quarter. Heritage Wealth Advisors grew its stake in shares of United Rentals by 21.0% in the 1st quarter. Heritage Wealth Advisors now owns 795 shares of the construction company’s stock valued at $82,000 after buying an additional 138 shares in the last quarter. Finally, Hanson & Doremus Investment Management increased its holdings in United Rentals by 105.9% in the first quarter. Hanson & Doremus Investment Management now owns 278 shares of the construction company’s stock worth $29,000 after buying an additional 143 shares during the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on URI. Bank of America downgraded shares of United Rentals from a “buy” rating to a “neutral” rating and set a $115.00 target price for the company. in a research report on Monday, April 13th. UBS Group upped their price objective on shares of United Rentals from $136.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Standpoint Research downgraded shares of United Rentals from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Oppenheimer began coverage on United Rentals in a research report on Sunday, May 3rd. They issued a “hold” rating for the company. Finally, Morgan Stanley increased their price objective on United Rentals from $110.00 to $136.00 and gave the company an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $148.29.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 29th. The construction company reported $3.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $1.75. United Rentals had a net margin of 12.37% and a return on equity of 37.16%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm posted $4.74 earnings per share. United Rentals’s revenue was down 15.3% compared to the same quarter last year. As a group, equities analysts predict that United Rentals, Inc. will post 13.17 EPS for the current fiscal year.
In other news, VP Andrew B. Limoges sold 553 shares of United Rentals stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $162.80, for a total transaction of $90,028.40. Following the sale, the vice president now owns 1,953 shares of the company’s stock, valued at approximately $317,948.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Kneeland sold 41,936 shares of United Rentals stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $155.60, for a total value of $6,525,241.60. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
About United Rentals
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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