Capital Research & Management Co has recently announced that it has increased stake in United Rentals Inc. (NYSE:URI) by 8.10%. After grabbing 3.02 million shares, the institutional investor is now in possession of 0.23 million shares of the Industrials Company. The new investment brought the stake of investor firm to 4.35% having worth around $1.41 billion. Moreover, Capital Research & Management Co increased its share by 12823.0 to have a control over 1.71 million shares. And Norges Bank Investment Management raised its holdings to 0.93 million shares by acquiring 1.65 million shares or 2.38% of the stake.
United Rentals Inc. (URI) concluded trading on 03/15/23 at a closing price of $393.82, with 1.79 million shares of worth about $705.98 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 33.65% during that period and on Wednesday the price saw a loss of about -5.35%. Currently the company’s common shares owned by public are about 69.39M shares, out of which, 68.94M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the URI stock and their offered price forecasts bring an average price target of $486.44. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $950.00 and could fall to a lowest price of $296.00. The stock’s current price level is 14.23% above of average price target set by the analysts, while a rise to estimated low would result in loss of -33.05% for the stock. However, touching the estimated high of $950.00 would mean a gain of 58.55% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 76,979 shares in 22 of the transactions. In 16 selling transactions, insiders dumped 78,891 shares.
Vanguard Total Stock Market Index, Government Pension Fund – Global, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in United Rentals Inc. Vanguard Total Stock Market Index is currently holding 2.13 million shares of worth totaling $995.68 million. The company recently came buying 17632.0 shares which brought its stake up to 3.06% of the company’s outstanding shares. Government Pension Fund – Global bought 0.94 million shares, after which its hold over company’s outstanding shares expand to 2.37%, leaving 1.64 million shares with the mutual fund that have a worth of about $768.64 million. Vanguard Mid Cap Index Fund, after buying 1.62 million shares, have now control over 2.33% of the stake in the company. It holds 2580.0 shares of worth $757.43 million.
United Rentals Inc. (NYSE: URI) started trading at $402.57, below -$13.52 from concluding price of the previous day. However, the stock later moved at a day high price of 405.25, or with a loss of -5.35%. Stock saw a price change of -17.50% in past 5 days and over the past one month there was a price change of -14.29%. Year-to-date (YTD), URI shares are showing a performance of 10.80% which increased to 22.97% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $230.54 but also hit the highest price of $481.99 during that period. The average intraday trading volume for United Rentals Inc. shares is 734.75K. The stock is currently trading -13.64% below its 20-day simple moving average (SMA20), while that difference is down -8.00% for SMA50 and it goes to 17.76% higher than SMA200.
Capital Research & Management Co acquired 3.02 million shares of United Rentals Inc. having value of about $1.41 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 0.23 million shares in the company valued at close to $89025373.92, or have control over 8.10% stake in the company. United Rentals Inc. (NYSE: URI) currently have 69.39M outstanding shares and institutions hold larger chunk of about 93.90% of that. Holding of mutual funds in the company is about 39.86% while other institutional holders and individual stake holders have control over 56.50% and 35.81% of the stake respectively.
The stock has a current market capitalization of $28.87B and its 3Y-monthly beta is at 1.86. PE ratio of stock for trailing 12 months is 13.24, while it has posted earnings per share of $29.75 in the same period. Its PEG reads 0.85 and has Quick Ratio of 1.00 while making debt-to-equity ratio of 1.61. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for URI, volatility over the week remained 5.14% while standing at 2.98% over the month.
Analysts are in expectations that United Rentals Inc. (URI) stock would likely to be making an EPS of $7.85 in the current quarter, while forecast for next quarter EPS is $9.71 and it is $44.04 for next year. For the current quarter EPS, analysts have given the company a lowest target $6.12 which is $9.42 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $5.73 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 55.80% while it is estimated to increase by 7.40% in next year. EPS is likely to shrink at an annualized rate of 15.59% for next 5-years, compared to annual growth of 31.00% made by the stock over the past 5-years.
Analysts at 23 brokerage firms have issued recommendations for the United Rentals Inc. (URI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 23 Wall Street analysts, 12 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on February 08, 2023 offering an Outperform rating for the stock and assigned a target price of $544 to it. Coverage by Bernstein stated United Rentals Inc. (URI) stock as an Underperform in their note to investors on August 18, 2022, suggesting a price target of $269 for the stock. On March 11, 2022, Wells Fargo Initiated their recommendations, while on January 21, 2022, Jefferies Resumed their ratings for the stock with a price target of $350. Stock get a Neutral rating from Robert W. Baird on December 21, 2021.
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