U-Haul (NYSE:UHAL) Stock: Insider Mark Shoen Sells 23,000 Shares

U-Haul Holding Company (NYSE:UHAL) major shareholder Mark Shoen sold 23,000 shares of U-Haul stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $53.24, for a total value of $1,224,520.00. Following the completion of the transaction, the insider directly owned 241,196 shares in the company, valued at $12,841,275.04. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

U-Haul Trading Down 3.5%

Shares of NYSE:UHAL traded down $2.14 during trading on Thursday, reaching $58.66. 329,675 shares of the stock were exchanged, compared to its average volume of 202,152. The firm’s 50-day moving average price is $60.96 and its 200 day moving average price is $58.52. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 419.02 and a beta of 1.07. U-Haul Holding Company has a 12-month low of $41.94 and a 12-month high of $76.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.57 and a current ratio of 1.77.

U-Haul (NYSE:UHAL) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.18). The business had revenue of $1.77 billion during the quarter. U-Haul had a net margin of 1.05% and a return on equity of 0.81%. On average, sell-side analysts anticipate that U-Haul Holding Company will post 1.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On U-Haul

Large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its position in shares of U-Haul by 28.9% during the second quarter. Engineers Gate Manager LP now owns 11,072 shares of the company’s stock worth $725,000 after acquiring an additional 2,482 shares during the last quarter. Inceptionr LLC acquired a new position in shares of U-Haul in the first quarter worth about $709,000. Maverick Capital Ltd. purchased a new position in U-Haul in the first quarter valued at about $651,000. GSA Capital Partners LLP purchased a new position in U-Haul in the second quarter valued at about $534,000. Finally, Caxton Associates LLP purchased a new position in U-Haul in the first quarter valued at about $496,000. 3.63% of the stock is owned by institutional investors and hedge funds.

U-Haul News Summary

Here are the key news stories impacting U-Haul this week:

• Positive Sentiment: Net earnings available to common stockholders rose to $136.7 million from $105.6 million a year earlier, while revenue also increased. U-Haul fiscal Q2 financial results
• Neutral Sentiment: Management projected a reduction of more than $500 million in net fleet investments and moderated its self-storage development pipeline to 5.5 million square feet. Lower investment could support capital discipline, though a smaller pipeline may temper growth expectations. U-Haul fleet investments and storage pipeline
• Negative Sentiment: Reported EPS of $0.71 was below FactSet’s $0.78 estimate, giving investors a reason to focus on the earnings shortfall even as net income rose. U-Haul Q2 earnings flash
• Negative Sentiment: Major shareholder Mark Shoen sold 23,000 shares in a transaction disclosed before the earnings release. Insider sales can weigh on sentiment, although the report does not establish the reason for the sale. U-Haul insider transaction report

Analysts Set New Price Targets

UHAL has been the topic of several recent research reports. Wall Street Zen upgraded shares of U-Haul from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of U-Haul in a report on Thursday, October 22nd. Citigroup assumed coverage on U-Haul in a research report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Finally, Citizens Jmp began coverage on U-Haul in a report on Wednesday, July 15th. They set a “mkt outperform” rating and a $90.00 target price on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $90.00.

U-Haul Company Profile

U-Haul, operated by U-Haul Holding Company (NYSE: UHAL), provides do-it-yourself moving and storage services to residential and commercial customers. Its offerings include rental trucks, trailers, towing equipment, vehicle storage, moving supplies and related services.

The company also operates self-storage facilities and offers portable storage through its U-Box® containers. Customers can access moving labor, hitch installation and other transportation-related services through U-Haul’s network of company-operated and independent dealer locations.

Founded in 1945 by Leonard Shoen, U-Haul serves customers throughout the United States and Canada.