Canada Pension Plan Investment Board boosts stake in United Rentals
May 15, 2017 - The Canada Pension Plan Investment Board boosted its stake in shares of United Rentals by 9.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 143,185 shares of the construction company’s stock after buying an additional 12,092 shares during the period. Canada Pension Plan Investment Board owned 0.17% of United Rentals worth $17,905,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of URI. Great West Life Assurance Co. Can raised its stake in United Rentals by 286.9% in the third quarter. Great West Life Assurance Co. Can now owns 217,603 shares of the construction company’s stock valued at $17,096,000 after buying an additional 161,365 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in United Rentals by 93.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,367 shares of the construction company’s stock valued at $2,070,000 after buying an additional 12,739 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in United Rentals during the third quarter valued at $30,270,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in United Rentals during the third quarter valued at $7,547,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in United Rentals by 4.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 277,921 shares of the construction company’s stock valued at $21,814,000 after buying an additional 11,253 shares in the last quarter. Institutional investors own 95.15% of the company’s stock.
United Rentals traded up 1.30% during trading on Friday, reaching $108.76. The company’s stock had a trading volume of 736,146 shares. The company has a market cap of $9.19 billion, a P/E ratio of 16.12 and a beta of 2.49. United Rentals, Inc. has a 52 week low of $58.83 and a 52 week high of $134.28. The company’s 50 day moving average price is $118.81 and its 200 day moving average price is $109.88.
United Rentals last issued its earnings results on Wednesday, April 19th. The construction company reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.12. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion. United Rentals had a net margin of 9.82% and a return on equity of 50.17%. United Rentals’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. On average, equities analysts anticipate that United Rentals, Inc. will post $9.52 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered United Rentals from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. Deutsche Bank AG started coverage on United Rentals in a research report on Wednesday, April 5th. They issued a “hold” rating and a $125.00 target price for the company. Bank of America Corp raised United Rentals from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Vetr raised United Rentals from a “buy” rating to a “strong-buy” rating and set a $125.52 target price for the company in a research report on Monday, April 24th. Finally, Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a research report on Thursday, March 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $119.23.
In other news, Director Singleton B. Mcallister sold 3,300 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $128.03, for a total value of $422,499.00. Following the sale, the director now directly owns 16,688 shares of the company’s stock, valued at approximately $2,136,564.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Matthew John Flannery sold 18,785 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $124.47, for a total transaction of $2,338,168.95. Following the completion of the sale, the chief operating officer now directly owns 30,426 shares in the company, valued at $3,787,124.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,571 shares of company stock worth $3,815,643. 1.30% of the stock is owned by insiders.
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