Congress Wealth Management LLC DE Purchases New Holdings in United Rentals, Inc. (NYSE:URI)

Congress Wealth Management LLC DE purchased a new stake in shares of United Rentals, Inc. (NYSE:URIGet Rating) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 28,491 shares of the construction company’s stock, valued at approximately $9,467,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its stake in United Rentals by 42.9% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 90 shares of the construction company’s stock valued at $32,000 after purchasing an additional 27 shares in the last quarter. Eagle Bay Advisors LLC increased its stake in United Rentals by 430.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 122 shares of the construction company’s stock valued at $41,000 after purchasing an additional 99 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in United Rentals during the 4th quarter valued at about $43,000. Parkside Financial Bank & Trust increased its stake in United Rentals by 105.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 140 shares of the construction company’s stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in United Rentals during the 3rd quarter valued at about $53,000. 89.82% of the stock is owned by institutional investors.

NYSE:URI traded up $6.32 during trading hours on Friday, hitting $331.07. 526,530 shares of the stock traded hands, compared to its average volume of 646,984. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 1.47. United Rentals, Inc. has a 1 year low of $285.59 and a 1 year high of $414.99. The company has a market cap of $23.90 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.71 and a beta of 1.84. The stock has a 50 day moving average price of $329.74 and a 200 day moving average price of $340.73.

United Rentals (NYSE:URIGet Rating) last released its earnings results on Wednesday, January 26th. The construction company reported $7.39 EPS for the quarter, topping the consensus estimate of $6.91 by $0.48. United Rentals had a net margin of 14.27% and a return on equity of 30.14%. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the firm earned $5.04 earnings per share. Equities analysts forecast that United Rentals, Inc. will post 27.96 earnings per share for the current fiscal year.

United Rentals declared that its board has authorized a share buyback plan on Wednesday, January 26th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

In other news, EVP Craig Adam Pintoff sold 1,652 shares of the business’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $323.41, for a total value of $534,273.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

URI has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of United Rentals in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research lowered shares of United Rentals from a “hold” rating to a “sell” rating and set a $383.00 price target for the company. in a research note on Wednesday, March 30th. Jefferies Financial Group started coverage on shares of United Rentals in a research note on Friday, January 21st. They issued a “hold” rating and a $350.00 price target for the company. KeyCorp cut their target price on shares of United Rentals from $455.00 to $420.00 and set an “overweight” rating for the company in a research report on Friday, January 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of United Rentals from $345.00 to $421.00 and gave the company a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $382.54.

About United Rentals (Get Rating)

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.

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

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