United Rentals, Inc. (NYSE:URI) Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC decreased its holdings in United Rentals, Inc. (NYSE:URIGet Rating) by 33.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 822 shares of the construction company’s stock after selling 416 shares during the quarter. Checchi Capital Advisers LLC’s holdings in United Rentals were worth $265,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bridgewater Associates LP acquired a new position in United Rentals in the second quarter worth approximately $9,260,000. Clearbridge Investments LLC grew its position in United Rentals by 7.9% in the second quarter. Clearbridge Investments LLC now owns 187,321 shares of the construction company’s stock worth $45,502,000 after buying an additional 13,748 shares during the last quarter. BOKF NA grew its position in United Rentals by 4.5% in the second quarter. BOKF NA now owns 5,484 shares of the construction company’s stock worth $1,332,000 after buying an additional 238 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in United Rentals in the second quarter worth approximately $1,140,000. Finally, Douglass Winthrop Advisors LLC grew its position in United Rentals by 6.7% during the 2nd quarter. Douglass Winthrop Advisors LLC now owns 13,885 shares of the construction company’s stock worth $3,373,000 after purchasing an additional 873 shares in the last quarter. Institutional investors and hedge funds own 90.41% of the company’s stock.

United Rentals Trading Up 0.6 %

United Rentals stock opened at $358.44 on Thursday. The company’s fifty day simple moving average is $303.05 and its 200-day simple moving average is $291.44. 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 12 month low of $230.54 and a 12 month high of $376.94. The stock has a market cap of $24.84 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.60 and a beta of 1.86.

United Rentals announced that its board has initiated a stock repurchase plan on Wednesday, October 26th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the construction company to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Jose B. Alvarez purchased 177 shares of the stock in a transaction dated Friday, November 18th. The shares were acquired at an average cost of $344.65 per share, for a total transaction of $61,003.05. Following the acquisition, the director now directly owns 10,660 shares in the company, valued at approximately $3,673,969. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on URI shares. Morgan Stanley lifted their price objective on shares of United Rentals from $300.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, October 28th. UBS Group lifted their price objective on shares of United Rentals from $365.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft lowered 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 report on Thursday, October 13th. Robert W. Baird lifted their price objective on shares of United Rentals from $318.00 to $365.00 in a research report on Monday, November 14th. Finally, StockNews.com cut shares of United Rentals from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Hold” and an average target price of $363.82.

About United Rentals

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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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