November 10, 2019 at 10:37 pm

Parallel Advisors LLC Decreases Stake in United Rentals, Inc. (NYSE:URI)

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Parallel Advisors LLC reduced its stake in United Rentals, Inc. (NYSE:URI) by 7.8% during the third quarter, Holdings Channel.com reports. The firm owned 1,951 shares of the construction company’s stock after selling 165 shares during the period. Parallel Advisors LLC’s holdings in United Rentals were worth $243,000 at the end of the most recent quarter.

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A number of other institutional investors also recently made changes to their positions in URI. DNB Asset Management AS increased its stake in shares of United Rentals by 2.8% during the second quarter. DNB Asset Management AS now owns 26,840 shares of the construction company’s stock valued at $3,560,000 after buying an additional 740 shares during the period. Pendal Group Ltd purchased a new position in shares of United Rentals during the second quarter valued at approximately $465,000. Putnam FL Investment Management Co. increased its stake in shares of United Rentals by 30.9% during the second quarter. Putnam FL Investment Management Co. now owns 3,290 shares of the construction company’s stock valued at $436,000 after buying an additional 777 shares during the period. Lyrical Asset Management LP increased its stake in shares of United Rentals by 38.0% during the second quarter. Lyrical Asset Management LP now owns 2,220,998 shares of the construction company’s stock valued at $294,571,000 after buying an additional 611,715 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in shares of United Rentals by 49.1% during the second quarter. Glen Harbor Capital Management LLC now owns 18,160 shares of the construction company’s stock valued at $2,409,000 after buying an additional 5,984 shares during the period. 89.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE URI traded up $5.15 during mid-day trading on Friday, hitting $155.32. 1,619,889 shares of the stock traded hands, compared to its average volume of 1,482,789. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.66 and a current ratio of 0.71. United Rentals, Inc. has a 52 week low of $94.28 and a 52 week high of $155.74. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 0.64 and a beta of 2.68. The stock has a fifty day moving average price of $128.39 and a 200-day moving average price of $124.93.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, October 16th. The construction company reported $5.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.74 by $0.22. United Rentals had a return on equity of 42.89% and a net margin of 12.45%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the company posted $4.74 earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts predict that United Rentals, Inc. will post 19.28 EPS for the current fiscal year.

In other news, Director Filippo Passerini purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average cost of $110.37 per share, for a total transaction of $220,740.00. Following the completion of the transaction, the director now directly owns 8,783 shares of the company’s stock, valued at approximately $969,379.71. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Kneeland sold 22,999 shares of United Rentals stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $151.08, for a total value of $3,474,688.92. Following the sale, the director now owns 181,973 shares in the company, valued at $27,492,480.84. The disclosure for this sale can be found here. Insiders have sold 28,770 shares of company stock worth $4,292,710 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

URI has been the topic of several research analyst reports. ValuEngine cut United Rentals from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 19th. Royal Bank of Canada set a $150.00 target price on United Rentals and gave the company a “buy” rating in a research note on Friday, October 18th. Citigroup reissued a “buy” rating and set a $160.00 target price on shares of United Rentals in a research note on Wednesday, September 11th. Morgan Stanley reduced their target price on United Rentals from $168.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Zacks Investment Research upgraded United Rentals from a “sell” rating to a “hold” rating and set a $119.00 price target on the stock in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $137.67.

United Rentals Profile

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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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:URI).

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

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