As United Rentals (URI) Share Value Declined, Lodge Hill Capital Cut Position by $12.60 Million …

Lodge Hill Capital Llc decreased its stake in United Rentals Inc (URI) by 28.15% based on its latest 2019Q2 regulatory filing with the SEC. Lodge Hill …

United Rentals, Inc. (NYSE:URI) Logo

Lodge Hill Capital Llc decreased its stake in United Rentals Inc (URI) by 28.15% based on its latest 2019Q2 regulatory filing with the SEC. Lodge Hill Capital Llc sold 95,420 shares as the company’s stock declined 8.72% . The hedge fund held 243,605 shares of the technology company at the end of 2019Q2, valued at $32.31M, down from 339,025 at the end of the previous reported quarter. Lodge Hill Capital Llc who had been investing in United Rentals Inc for a number of months, seems to be less bullish one the $9.85B market cap company. The stock increased 2.88% or $3.57 during the last trading session, reaching $127.62. About 1.68M shares traded or 25.17% up from the average. United Rentals, Inc. (NYSE:URI) has declined 12.99% since September 12, 2018 and is downtrending. It has underperformed by 12.99% the S&P500. Some Historical URI News: 19/04/2018 – S&PGR Upgrades United Rentals Inc And Sub To ‘BB’; Otlk Stbl; 18/04/2018 – United Rentals 1Q Rev $1.73B; 07/05/2018 – United Rentals Access Event Scheduled By Northcoast Research; 03/04/2018 – GREENLIGHT EXITED SHORT BETS ON UNITED RENTALS, HEXAGON: RTRS; 18/04/2018 – United Rentals Backs FY Rev $7.3B-$7.6B; 03/04/2018 – News 10: Source: URI to name head coach in next 24 hours; 26/03/2018 – United Rentals Closes Above 50-Day Moving Average: Technicals; 18/04/2018 – UNITED RENTALS INC – QTRLY RENTAL REVENUE INCREASED 25.1% YEAR-OVER-YEAR; 18/04/2018 – UNITED RENTALS REAFFIRMS YR FORECAST; 20/04/2018 – DJ United Rentals Inc, Inst Holders, 1Q 2018 (URI)

Capital Guardian Trust Company decreased its stake in Icici Bank Ltd Adr (IBN) by 9.15% based on its latest 2019Q2 regulatory filing with the SEC. Capital Guardian Trust Company sold 364,659 shares as the company’s stock rose 7.11% . The institutional investor held 3.62 million shares of the commercial banks company at the end of 2019Q2, valued at $45.56 million, down from 3.98 million at the end of the previous reported quarter. Capital Guardian Trust Company who had been investing in Icici Bank Ltd Adr for a number of months, seems to be less bullish one the $36.33 billion market cap company. The stock increased 2.59% or $0.28 during the last trading session, reaching $11.11. About 10.84 million shares traded or 79.21% up from the average. ICICI Bank Limited (NYSE:IBN) has risen 38.59% since September 12, 2018 and is uptrending. It has outperformed by 38.59% the S&P500. Some Historical IBN News: 20/03/2018 – ICICI BANK APPROVES ALLOTMENT OF 9.15% BONDS TO RAISE INR40B; 06/04/2018 – ICICI Bank Enables Non Resident lndians (NRls) to Send Money Through Social Media on its Money2lndia App; 08/03/2018 – Moneycontrol.in: Market Live: Sensex, Nifty Bank rise 300 pts; SBI, ICICI Bank rally 3%; 16/04/2018 – ICICI BANK SAYS RESPONDED TO SEBI REQUEST FOR CLARIFICATIONS; 07/05/2018 – INDIA’S ICICI BANK EXEC SAYS GOING FORWARD FOCUS WILL BE ON RESOLUTION; 27/03/2018 – MEDIA-India’s ICICI Bank moves NCLT to include claim of $75 mln in Monnet lspat bankruptcy – Mint; 04/04/2018 – India Today: Chairman MK Sharma evaluated ICICI-Videocon deal process, not third party; 03/04/2018 – ICICI BANK A PART OF GROUP OF BANKS TO LEND TO VIDEOCON GROUP; 07/05/2018 – ICICI BANK-PROVISION MADE BY DEBITING RESERVES, SURPLUS WILL BE REVERSED, ACCOUNTED VIA P&L ACCOUNT OVER SUBSEQUENT QTRS OF FY 2019; 02/04/2018 – ICICI CLARIFIES ON REPORT OF PROBE BY ENFORCEMENT DIRECTORATE

Investors sentiment decreased to 0.82 in 2019 Q2. Its down 0.25, from 1.07 in 2019Q1. It worsened, as 62 investors sold URI shares while 195 reduced holdings. 73 funds opened positions while 137 raised stakes. 63.72 million shares or 0.01% less from 63.73 million shares in 2019Q1 were reported. Eaton Vance Management holds 24,531 shares. Fil holds 27,760 shares. Wells Fargo Mn invested in 257,390 shares or 0.01% of the stock. Verition Fund Mgmt Ltd Llc holds 0.03% or 7,321 shares in its portfolio. 603 are held by Cornerstone Advisors. Gsa Cap Prtn Limited Liability Partnership holds 2,475 shares or 0.04% of its portfolio. 544,423 are owned by Charles Schwab Investment Inc. American Group Inc Inc has invested 0.87% in United Rentals, Inc. (NYSE:URI). Mitchell Mcleod Pugh & Williams Incorporated reported 0.25% in United Rentals, Inc. (NYSE:URI). Buckingham Mgmt accumulated 1.25% or 76,604 shares. Compton Cap Ri reported 2,410 shares. Parkside Financial Bank accumulated 52 shares. Strs Ohio holds 0.04% or 70,052 shares. Arizona State Retirement System accumulated 14,954 shares. Employees Retirement Association Of Colorado has invested 0.01% in United Rentals, Inc. (NYSE:URI).

More notable recent United Rentals, Inc. (NYSE:URI) news were published by: Finance.Yahoo.com which released: “Larry Robbins Buys 3 Stocks in 2nd Quarter – Yahoo Finance” on August 21, 2019, also Benzinga.com with their article: “Alibaba, United Rentals And More ‘Fast Money Halftime Report’ Picks From August 16 – Benzinga” published on August 18, 2019, Finance.Yahoo.com published: “Wall Street Moves Up Thursday – Yahoo Finance” on August 29, 2019. More interesting news about United Rentals, Inc. (NYSE:URI) were released by: Businesswire.com and their article: “United Rentals to Present at the Morgan Stanley Seventh Annual Laguna Conference – Business Wire” published on September 03, 2019 as well as Finance.Yahoo.com‘s news article titled: “Here’s How P/E Ratios Can Help Us Understand United Rentals, Inc. (NYSE:URI) – Yahoo Finance” with publication date: August 13, 2019.

Analysts await United Rentals, Inc. (NYSE:URI) to report earnings on October, 16. They expect $5.74 earnings per share, up 21.10% or $1.00 from last year’s $4.74 per share. URI’s profit will be $442.94 million for 5.56 P/E if the $5.74 EPS becomes a reality. After $4.74 actual earnings per share reported by United Rentals, Inc. for the previous quarter, Wall Street now forecasts 21.10% EPS growth.

Lodge Hill Capital Llc, which manages about $208.28 million and $419.69M US Long portfolio, upped its stake in Lennar Corp (NYSE:LEN) by 50,000 shares to 246,869 shares, valued at $11.96M in 2019Q2, according to the filing. It also increased its holding in Manitowoc Co Inc (Call) by 100,000 shares in the quarter, for a total of 200,000 shares, and has risen its stake in Caterpillar Inc Del (NYSE:CAT).

Analysts await ICICI Bank Limited (NYSE:IBN) to report earnings on October, 25. IBN’s profit will be $588.59M for 15.43 P/E if the $0.18 EPS becomes a reality. After $0.08 actual EPS reported by ICICI Bank Limited for the previous quarter, Wall Street now forecasts 125.00% EPS growth.

Capital Guardian Trust Company, which manages about $7.42B US Long portfolio, upped its stake in Royal Caribbean Cruises Ltd (NYSE:RCL) by 264,106 shares to 280,110 shares, valued at $33.92 million in 2019Q2, according to the filing. It also increased its holding in Qualcomm Inc (NASDAQ:QCOM) by 247,408 shares in the quarter, for a total of 333,617 shares, and has risen its stake in Asml Holding Nv (Usd) (NASDAQ:ASML).

United Rentals, Inc. (NYSE:URI) Institutional Positions Chart

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Wall Street Edges Higher Wednesday

On the other hand, Lee Ainslie (Trades, Portfolio) and Jim Simons (Trades, Portfolio)’ Renaissance Technologies sold out of the stock. Gainers.

U.S. stocks were in the green on Wednesday after China announced it will be suspending additional tariffs on some U.S. products. The Dow Jones Industrial Average gained 0.50% to 27,045, the S&P 500 Index rose 0.49% to 2,993 and the Nasdaq Composite Index swelled 0.81% to 8,149.

Shares of Dave & Buster’s Entertainment Inc. (NASDAQ:PLAY) fell more than 5% after announcing second-quarter results. The company posted earnings of 90 cents per share on revenue of $344.59 million. The company beat earnings estimates by 6 cents, but revenue was in line with expectations.

“We continue to deliver strong revenue and earnings per share growth – including record second quarter sales, Ebitda and EPS – while investing for the future and returning substantial capital to shareholders through dividends and share repurchases,” CEO Brian Jenkins said.

During the quarter, comparable store sales declined 1.8%, compared a decrease of 2.4% in the prior-year quarter, due to a 2% decrease in walk-in sales. Further, operating income rose 0.6% from the year-ago quarter to $46.2 million. As a percentage of total revenue, it decreased 100 basis points to 13.4%.

The earnings before interest, taxes, depreciation and amortization inched up 5.3% to $79 million from $75 million last year. As a percentage of total revenue, Ebitda decreased 60 basis points to 22.9%. The adjusted Ebitda increased 4.4% to $86 million. As a percentage of total revenue, it decreased 80 basis points to 25%.

Moreover, during the quarter, the company repurchased 3.4 million shares for $137 million.

Looking ahead to full fiscal 2019, the company expects total revenue to be between $1.338 billion and $1.359 billion and net income to range from $91 million to $100 million.

During the quarter ended June 30, Paul Tudor Jones (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio) established new positions in the stock. Steven Cohen (Trades, Portfolio) boosted his holding by 275% to 117,896 shares. On the other hand, Lee Ainslie (Trades, Portfolio) and Jim Simons (Trades, Portfolio)’ Renaissance Technologies sold out of the stock.

Gainers

  • CenturyLink Inc. (NYSE:CTL) + 4.7%

  • TripAdvisor Inc. (NASDAQ:TRIP) + 4.4%

  • Waters Corp. (NYSE:WAT) + 3.3%

  • Western Digital Corp. (NASDAQ:WDC) +2.6%

  • Newmont Goldcorp Corp. (NYSE:NEM) +1.9%

Losers

  • DaVita Inc. (NYSE:DVA) -3.6%

  • Take-Two Interactive Software Inc. (NASDAQ:TTWO) -2.9%

  • Cigna Corp. (NYSE:CI) -2.2%

  • Monster Beverage Corp. (NASDAQ:MNST) -1.9%

  • Xerox Holdings Corp. (NYSE:XRX) -1.2%

Global markets

The main European stock markets traded in the green. The U.K.’s FTSE 100 advanced 0.96%, France’s CAC 40 rose 0.44%, Germany’s Dax swelled 0.74% and Spain’s IBEX 35 dipped 0.21%.

In Asia, Japan’s Nikkei 225 gained 0.96%, India’s BSE Sensex rose 0.34%, Hong Kong’s Hang Seng climbed 1.78% and China’s Shanghai Composite slid 0.41%.

Disclosure:The author holds no positions in any stocks mentioned.

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Tech Mahindra shares likely to rebound after blockbuster deal with AT&T

In comparison, its larger rivals Tata Consultancy Services and Infosys saw their stock surge 14% and 24%, respectively, this year. The S&P BSE IT …

MUMBAI (NewsRise) — Indian software exporter Tech Mahindra‘s big-ticket outsourcing deal with AT&T could breathe fresh life into the Mahindra Group company’s shares, as it potentially bulks up the sagging communications business and raises the prospects of strong revenue growth.

Mumbai-based Tech Mahindra’s shares have lost 2.4% since the beginning of 2019 after they gained 43% last year. In comparison, its larger rivals Tata Consultancy Services and Infosys saw their stock surge 14% and 24%, respectively, this year. The S&P BSE IT index added 13% during this period.

Tech Mahindra’s shares have underperformed its rivals and the BSE IT Index as its weak earnings growth in the past two quarters raised concerns among investors about a further decline in margins.

However, the new deal could help the stock recover. Last week, Tech Mahindra announced one of its largest-ever project wins that could be worth $1 billion over the next four to five years. The contract entailed migration of the U.S. telecom behemoth’s traditional operational and support software systems to cloud and drawing up its software-defined network for the next-generation cellular technology. Tech Mahindra declined to give any financial details of the deal.

The deal is likely to give a fillip to Tech Mahindra’s financial performance, which has been lackluster in the past two quarters as the company struggled with client-specific issues and declining investments from automobile and financial services businesses.

Analysts say revenue growth is crucial for Tech Mahindra to expand its margins. The announcement of AT&T deal comes “as a booster to that effect,” Motilal Oswal said in a report.

The project also underscores the strong deal momentum in the communications industry as operators prepare to modernize their infrastructure ahead of the launch of 5G mobile phone services.

Brokerage Edelweiss expects the deal to catapult Tech Mahindra’s communications revenue — which accounts for over 40% of its overall revenue — to 12% over fiscal year 2019 to 2021 from 6.5%.

“While the deal ramp-up and transition may pressure margins, the potential for a re-rating of the stock is significant too as this landmark deal would boost the company’s single-digit growth estimates currently,” it said. Edelweiss has a target price of 935 rupees on the stock.

“We see this deal as an investment that Tech Mahindra is making to get a large referenceable project to market to the global telecom universe that is at the cusp of pivoting to the 5G era,” Nirmal Bang said in a report Monday. The deal also augurs well for other Indian IT companies such as Tata Consultancy Services, Infosys, and Wipro which have substantial exposure to the communications sector and have partnerships with AT&T.

Tech Mahindra shares fell 1.3% to close at 703.70 rupees in Mumbai trading on Wednesday, while the benchmark S&P BSE Sensex gained 0.3%.

–Dhanya Ann Thoppil

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Wall Street Posts Losses on Tuesday

… Portfolio) reduced his holding by 17% to 57,961 shares and Jim Simons (Trades, Portfolio)’ Renaissance Technologies curbed its position by 20% to …

U.S. stocks were in the red on Tuesday, with electronic tech and commercial services stocks leading the decline. The Dow Jones Industrial Average fell 0.13% to 26,800, the S&P 500 index dipped 0.39% to 2,966 and the Nasdaq Composite Index slid 0.50% to 8,046.

Shares of Casey’s General Stores Inc. (NASDAQ:CASY) gained about 1.5% after announcing firstquarter results. The company posted earnings of $2.31 per share on $2.63 billion in revenue. The company beat earnings estimates by 25 cents and revenue expectations by $40 million.

“Quarterly results were positively impacted by our fuel price optimization initiative, store growth and a continued focus on controlling operating expenses,” President and CEO Darren Rebelez said.

For the quarter, the gross profit was $565.7 million, up 840 basis points year over year, and the gross margin expanded 130 points to 21.5%. Operating expenses increased 5.7% as a result of 76 more stores opened from the prior-year quarter.

By segment, grocery and other merchandise sales grew 6.7% to $687.9 million and same-store sales rose 3.2%. In the prepared food and fountain division, sales rose 5.3% to $295.9 million, while same-store sales jumped 1.6%.

Looking ahead, the company maintained its fiscal 2020 guidance.

During the quarter ended June 30, Mario Gabelli (Trades, Portfolio) reduced his holding by 17% to 57,961 shares and Jim Simons (Trades, Portfolio)’ Renaissance Technologies curbed its position by 20% to 24,472 shares. Robert Olstein (Trades, Portfolio) sold out of the stock and Joel Greenblatt (Trades, Portfolio) boosted his position by 53% to 11,561 shares.

Gainers

  • Nektar Therapeutics Inc. (NASDAQ:NKTR) +10.5%
  • LKQ Corp. (LKQ) +4.9%
  • Sealed Air Corp. (NYSE:SEE) +5.5%
  • Mosaic Co. (NYSE:MOS) +6.2%
  • Albemarle Corp. (NYSE:ALB) +4.5%

Losers

  • Chipotle Mexican Grill Inc. (NYSE:CMG) -7.0%
  • SBA Communications Corp. (NASDAQ:SBAC) -5.0%
  • Starbucks Corp. (NASDAQ:SBUX) -4.9%
  • Aon PLC (NYSE:AON) -3.9%

Global markets

The main European stock markets traded in the green. The U.K.’s FTSE 100 advanced 0.44%, France’s CAC 40 swelled 0.08%, Germany’s Dax rose 0.35% and Spain’s IBEX 35 advanced 0.75%.

In Asia, Japan’s Nikkei 225 gained 0.35%, India’s BSE Sensex climbed 0.44%, Hong Kong’s Hang Seng rose 0.01% and China’s Shanghai Composite slid 0.12%.

Disclosure:The author holds no positions in any stocks mentioned.

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Stock, currency markets shut today for Muharram

Domestic stock exchanges, currency as well as debt markets will remain closed on Tuesday on account of Muharram. The commodities market will …
Domestic stock exchanges, currency as well as debt markets will remain closed on Tuesday on account of Muharram. The commodities market will also remain shut during the first session from 10 am to 5 pm.

Asian stocks traded mixed this morning after a global bond sell-off and their US peers snapping three days of gains. Treasury yields stabilized after Monday’s climb.

Equities saw a modest rise in Tokyo and Seoul, and dipped in Sydney. S&P 500 futures edged higher after US stocks closed flat with sectors that had driven a recent rally such as health-care, tech and real estate underperforming. UK contracts were little changed after the British Parliament again rejected an early election. The pound was steady.

On Monday, India’s benchmark equity indices ended higher following gains in select financial stocks amid firm global cues. The 30-share BSE Sensex closed 163.68 points, or 0.44 per cent, higher at 37,145, while the 50-share Nifty index settled 56.85 points, or 0.52 per cent, up at 11,003.

“Nifty will remain in the range of 10,800-11,200 this week. Traders should sell on the rise,” said Nirav Chheda, derivatives & technical analyst at Nirmal Bang Securities.

Equity markets would track announcement of some key macroeconomic data points in this holiday-shortened week for further cues.

Vinod Nair, Head of Research, Geojit Financial Services, said the market reversed its early losses on Monday based on the positive view in the global market that interest rate will be eased further by ECB. “Global uncertainties like Brexit and US-China talks will be watched carefully by the market. While domestically, data like CPI, IIP, and FII inflows during the week will be assessed to understand whether the worst for the economy is over or weakness will continue in the short term,” he said.

Overseas investors have already pulled out a net of Rs 1,263 crore from the capital markets in the first week of September amid global headwinds even as the government rolled back enhanced surcharge on FPIs. They remained net sellers for the previous two months, pulling out Rs 5,920 crore in August and Rs 2,985 crore in July from the domestic capital markets (both equity and debt).

FPIs withdrew more than Rs 30,000 crore from the equities during July-August after Finance Minister Nirmala Sitharaman in her maiden Budget enhanced tax surcharge on them.

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