Pinebridge Investments L.P. raised its stake in United Rentals, Inc. (NYSE:URI) by 376.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,025 shares of the construction company’s stock after purchasing an additional 26,093 shares during the period. Pinebridge Investments L.P.’s holdings in United Rentals were worth $4,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. First Manhattan Co. grew its stake in United Rentals by 4,204.3% in the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after purchasing an additional 967 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of United Rentals during the second quarter worth about $151,000. Trexquant Investment LP purchased a new stake in shares of United Rentals during the third quarter worth about $202,000. Harbor Advisors LLC purchased a new stake in shares of United Rentals during the third quarter worth about $208,000. Finally, Calamos Advisors LLC purchased a new stake in shares of United Rentals during the third quarter worth about $208,000. Institutional investors own 91.74% of the company’s stock.
United Rentals, Inc. (NYSE URI) traded up $2.66 during trading on Tuesday, hitting $159.75. The company had a trading volume of 1,313,100 shares, compared to its average volume of 1,575,797. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.92 and a quick ratio of 0.88. United Rentals, Inc. has a 12-month low of $100.62 and a 12-month high of $163.92. The firm has a market capitalization of $13,510.00, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 0.80 and a beta of 2.67.
United Rentals announced that its board has approved a share buyback program on Wednesday, October 18th that permits the company to buyback $373.00 million in shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Jenne K. Britell sold 3,250 shares of United Rentals stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $153.81, for a total transaction of $499,882.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew John Flannery sold 22,324 shares of United Rentals stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $147.44, for a total value of $3,291,450.56. Following the sale, the chief operating officer now directly owns 31,243 shares of the company’s stock, valued at approximately $4,606,467.92. The disclosure for this sale can be found here. Insiders have sold 68,683 shares of company stock valued at $9,934,452 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.
A number of brokerages have recently weighed in on URI. Jefferies Group restated a “buy” rating on shares of United Rentals in a research note on Friday, August 18th. Stifel Nicolaus upgraded United Rentals from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research note on Friday, August 18th. BidaskClub lowered United Rentals from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Deutsche Bank restated a “hold” rating and set a $157.00 price target (up previously from $130.00) on shares of United Rentals in a research note on Tuesday, October 3rd. Finally, UBS set a $150.00 price target on United Rentals and gave the stock a “hold” rating in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. United Rentals has an average rating of “Buy” and a consensus price target of $145.57.
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United Rentals Company Profile
United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.
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