Capital Research & Management Co has recently announced that it has increased stake in United Rentals, Inc. (NYSE:URI) by 99.20%. After grabbing 4.6 million shares, the institutional investor is now in possession of 2.29 million shares of the Industrials Company. The new investment brought the stake of investor firm to 6.79% having worth around $2.64 billion. Moreover, Norges Bank Investment Management increased its share by 0.12 million to have a control over 1.65 million shares. And Geode Capital Management LLC raised its holdings to 8573.0 shares by acquiring 1.47 million shares or 2.17% of the stake.
United Rentals, Inc. (URI) concluded trading on Thursday at a closing price of $651.64, with 2.66 million shares of worth about $1.73 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 46.44% during that period and on Thursday, January 25 the price saw a gain of about 12.96%. Currently the company’s common shares owned by public are about 67.78M shares, out of which, 67.40M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 57 times over the past 12 months. They bought 17,179 shares in 23 of the transactions. In 34 selling transactions, insiders dumped 55,325 shares.
American Funds Growth Fund of Ame, American Funds Investment Company, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in United Rentals, Inc. American Funds Growth Fund of Ame is currently holding 2.51 million shares of worth totaling $1.44 billion. The company recently came buying 0.5 million shares which brought its stake up to 3.70% of the company’s outstanding shares. American Funds Investment Company bought 1.0 million shares, after which its hold over company’s outstanding shares expand to 3.21%, leaving 2.18 million shares with the mutual fund that have a worth of about $1.25 billion. Vanguard Total Stock Market ETF, after selling 2.13 million shares, have now control over 3.14% of the stake in the company. It holds 8160.0 shares of worth $1.22 billion.
However, the stock later moved at a day high price of 658.51, or with a gain of 12.96%. Stock saw a price change of 15.67% in past 5 days and over the past one month there was a price change of 14.22%. Year-to-date (YTD), URI shares are showing a performance of 13.64% which increased to 65.47% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $325.15 but also hit the highest price of $591.66 during that period. The average intraday trading volume for United Rentals, Inc. shares is 695.36K. The stock is currently trading 15.78% above its 20-day simple moving average (SMA20), while that difference is up 23.98% for SMA50 and it goes to 46.40% higher than SMA200.
Capital Research & Management Co acquired 4.6 million shares of United Rentals, Inc. having value of about $2.64 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 2.29 million shares in the company valued at close to $1492716961.12, or have control over 99.20% stake in the company. United Rentals, Inc. (NYSE: URI) currently have 67.78M outstanding shares and institutions hold larger chunk of about 95.85% of that. Holding of mutual funds in the company is about 36.64% while other institutional holders and individual stake holders have control over 61.97% and 34.91% of the stake respectively.
The stock has a current market capitalization of $44.17B and its 3Y-monthly beta is at 1.84. PE ratio of stock for trailing 12 months is 18.43, while it has posted earnings per share of $35.36 in the same period. Its PEG reads 1.18 and has Quick Ratio of 0.75 while making debt-to-equity ratio of 1.56. 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 3.99% while standing at 2.72% over the month.
Analysts are in expectations that United Rentals, Inc. (URI) stock would likely to be making an EPS of $8.18 in the current quarter, while forecast for next quarter EPS is $10.33 and it is $45.82 for next year. For the current quarter EPS, analysts have given the company a lowest target $6.19 which is $9.17 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 $7.95 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 4.70% while it is estimated to increase by 8.58% in next year. EPS is likely to shrink at an annualized rate of 15.60% for next 5-years, compared to annual growth of 21.88% made by the stock over the past 5-years.
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 Morgan Stanley on January 08, 2024 offering an Equal-weight rating for the stock and assigned a target price of $500 to it.
