Bank of America Corp DE Buys 78,992 Shares of United Rentals, Inc. (NYSE:URI)

Bank of America Corp DE grew its stake in United Rentals, Inc. (NYSE:URIGet Rating) by 10.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 831,127 shares of the construction company’s stock after purchasing an additional 78,992 shares during the quarter. Bank of America Corp DE owned about 1.16% of United Rentals worth $295,225,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sargent Bickham Lagudis LLC raised its holdings in United Rentals by 9,444.2% in the 1st quarter. Sargent Bickham Lagudis LLC now owns 4,963 shares of the construction company’s stock worth $1,762,000 after purchasing an additional 4,911 shares in the last quarter. Flputnam Investment Management Co. raised its holdings in United Rentals by 185.0% in the 1st quarter. Flputnam Investment Management Co. now owns 4,880 shares of the construction company’s stock worth $1,733,000 after purchasing an additional 3,168 shares in the last quarter. Versor Investments LP grew its position in shares of United Rentals by 9.4% in the 1st quarter. Versor Investments LP now owns 1,607 shares of the construction company’s stock worth $571,000 after buying an additional 138 shares during the period. BlackRock Inc. grew its position in shares of United Rentals by 1.1% in the 1st quarter. BlackRock Inc. now owns 5,450,665 shares of the construction company’s stock worth $1,936,131,000 after buying an additional 59,109 shares during the period. Finally, Xponance Inc. grew its position in shares of United Rentals by 2.9% in the 1st quarter. Xponance Inc. now owns 7,506 shares of the construction company’s stock worth $2,666,000 after buying an additional 211 shares during the period. 90.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Andrew B. Limoges sold 308 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $333.24, for a total transaction of $102,637.92. Following the sale, the vice president now owns 2,070 shares of the company’s stock, valued at approximately $689,806.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Matthew John Flannery sold 19,076 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total value of $5,722,800.00. Following the transaction, the chief executive officer now owns 86,964 shares in the company, valued at approximately $26,089,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew B. Limoges sold 308 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $333.24, for a total transaction of $102,637.92. Following the completion of the transaction, the vice president now owns 2,070 shares in the company, valued at approximately $689,806.80. The disclosure for this sale can be found here. Insiders have sold a total of 20,361 shares of company stock valued at $6,142,963 in the last 90 days. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. KeyCorp upped their target price on shares of United Rentals from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Sanford C. Bernstein downgraded shares of United Rentals from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $307.00 to $269.00 in a research report on Thursday, August 18th. StockNews.com raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird upped their target price on shares of United Rentals from $247.00 to $312.00 in a research report on Thursday, July 28th. Finally, OTR Global downgraded shares of United Rentals to a “positive” rating in a research report on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, United Rentals currently has an average rating of “Hold” and an average price target of $360.82.

United Rentals Stock Performance

Shares of NYSE URI opened at $295.42 on Tuesday. The firm’s 50-day moving average price is $299.71 and its 200-day moving average price is $300.27. The company has a quick ratio of 0.97, a current ratio of 1.07 and a debt-to-equity ratio of 1.61. The company has a market cap of $20.67 billion, a PE ratio of 12.21, a PEG ratio of 0.51 and a beta of 1.92. United Rentals, Inc. has a 52-week low of $230.54 and a 52-week high of $414.99.

United Rentals (NYSE:URIGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The construction company reported $7.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.57 by $1.29. The firm 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 16.41% and a return on equity of 33.79%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.66 EPS. As a group, analysts anticipate that United Rentals, Inc. will post 31.73 EPS for the current year.

About United Rentals

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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

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

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