Rhumbline Advisers Purchases 12,393 Shares of United Rentals, Inc. (NYSE:URI)

Rhumbline Advisers boosted its position in United Rentals, Inc. (NYSE:URIGet Rating) by 9.9% during the second quarter, HoldingsChannel.com reports. The fund owned 137,504 shares of the construction company’s stock after buying an additional 12,393 shares during the quarter. Rhumbline Advisers’ holdings in United Rentals were worth $33,401,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC increased its stake in United Rentals by 1.7% in the second quarter. Jackson Creek Investment Advisors LLC now owns 1,897 shares of the construction company’s stock valued at $612,000 after acquiring an additional 32 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of United Rentals by 7.7% during the first quarter. Quadrant Capital Group LLC now owns 476 shares of the construction company’s stock worth $169,000 after buying an additional 34 shares during the last quarter. Alphastar Capital Management LLC grew its stake in shares of United Rentals by 2.7% during the second quarter. Alphastar Capital Management LLC now owns 1,566 shares of the construction company’s stock worth $380,000 after buying an additional 41 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of United Rentals by 23.9% during the second quarter. Wolff Wiese Magana LLC now owns 223 shares of the construction company’s stock worth $55,000 after buying an additional 43 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of United Rentals by 17.6% during the second quarter. First Horizon Advisors Inc. now owns 287 shares of the construction company’s stock worth $68,000 after buying an additional 43 shares during the last quarter. 90.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on URI. Citigroup boosted their target price on shares of United Rentals to $375.00 in a research note on Tuesday, August 9th. Sanford C. Bernstein cut shares of United Rentals from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $307.00 to $269.00 in a research note on Thursday, August 18th. KeyCorp boosted their target price on shares of United Rentals from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley boosted their target price on shares of United Rentals from $300.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of United Rentals from $354.00 to $328.00 and set a “hold” rating on the stock in a research note on Thursday, October 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals has an average rating of “Hold” and an average target price of $363.82.

United Rentals Stock Performance

Shares of United Rentals stock opened at $358.44 on Thursday. The stock has a market cap of $24.84 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 0.60 and a beta of 1.86. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 1.54. United Rentals, Inc. has a twelve month low of $230.54 and a twelve month high of $376.94. The company’s fifty day moving average is $303.05 and its 200 day moving average is $291.44.

United Rentals declared that its board has initiated a stock repurchase plan on Wednesday, October 26th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at United Rentals

In other news, Director Jose B. Alvarez bought 177 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were acquired at an average price of $344.65 per share, for a total transaction of $61,003.05. Following the completion of the acquisition, the director now directly owns 10,660 shares in the company, valued at $3,673,969. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

United Rentals Company Profile

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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.

Further Reading

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

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