Principal Financial Group Inc. Acquires 1,597 Shares of United Rentals, Inc. (NYSE:URI)

Principal Financial Group Inc. boosted its holdings in shares of United Rentals, Inc. (NYSE:URI) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,696 shares of the construction company’s stock after purchasing an additional 1,597 shares during the period. Principal Financial Group Inc. owned about 0.13% of United Rentals worth $30,528,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cibc World Markets Corp lifted its stake in United Rentals by 49.7% during the second quarter. Cibc World Markets Corp now owns 22,109 shares of the construction company’s stock worth $7,053,000 after purchasing an additional 7,339 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in United Rentals by 2.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,815 shares of the construction company’s stock worth $2,493,000 after purchasing an additional 209 shares during the period. Edgestream Partners L.P. lifted its stake in United Rentals by 15.5% during the second quarter. Edgestream Partners L.P. now owns 7,982 shares of the construction company’s stock worth $2,546,000 after purchasing an additional 1,072 shares during the period. Mid Atlantic Financial Management Inc. ADV bought a new position in United Rentals during the second quarter worth about $262,000. Finally, Van ECK Associates Corp lifted its stake in United Rentals by 130.2% during the second quarter. Van ECK Associates Corp now owns 290 shares of the construction company’s stock worth $93,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 88.94% of the company’s stock.

URI opened at $330.26 on Wednesday. The company has a fifty day moving average price of $336.21 and a two-hundred day moving average price of $326.27. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.78 and a current ratio of 0.85. United Rentals, Inc. has a 52 week low of $159.01 and a 52 week high of $364.30. The firm has a market capitalization of $23.91 billion, a PE ratio of 23.97, a P/E/G ratio of 1.02 and a beta of 2.03.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 28th. The construction company reported $4.66 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.15). United Rentals had a return on equity of 29.06% and a net margin of 11.36%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the firm posted $3.68 EPS. Equities analysts forecast that United Rentals, Inc. will post 21.66 EPS for the current year.

Several analysts have recently weighed in on URI shares. Citigroup raised shares of United Rentals from a “neutral” rating to a “buy” rating in a report on Wednesday, June 23rd. Morgan Stanley raised their price objective on shares of United Rentals from $267.00 to $268.00 and gave the stock an “underweight” rating in a report on Friday, July 30th. UBS Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $335.00 to $375.00 in a report on Friday, June 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of United Rentals from $360.00 to $342.00 and set a “hold” rating for the company in a report on Wednesday, July 14th. Finally, Barclays raised their price objective on shares of United Rentals from $255.00 to $265.00 and gave the stock an “underweight” rating in a report on Wednesday, July 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals has an average rating of “Buy” and a consensus target price of $310.17.

United Rentals Profile

United Rentals, Inc engages in the equipment rental business. It offers rent to construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities. The firm operates through two business segments: General Rentals; and Trench, Power & Fluid Solutions. The General Rentals segment engages in the rental of construction, aerial and industrial equipment, general tools and light equipment, and related services and activities.

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

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