Rhumbline Advisers Has $33.40 Million Stock Holdings in United Rentals, Inc. (NYSE:URI)

Rhumbline Advisers boosted its position in shares of United Rentals, Inc. (NYSE:URIGet Rating) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,504 shares of the construction company’s stock after buying an additional 12,393 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of United Rentals worth $33,401,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in United Rentals by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock worth $2,905,379,000 after buying an additional 186,931 shares in the last quarter. BlackRock Inc. lifted its stake in shares of United Rentals by 1.1% in the 1st quarter. BlackRock Inc. now owns 5,450,665 shares of the construction company’s stock valued at $1,936,131,000 after purchasing an additional 59,109 shares during the period. Capital Research Global Investors lifted its stake in shares of United Rentals by 55.7% in the 1st quarter. Capital Research Global Investors now owns 2,693,664 shares of the construction company’s stock valued at $956,818,000 after purchasing an additional 964,105 shares during the period. Lyrical Asset Management LP lifted its stake in shares of United Rentals by 0.7% in the 1st quarter. Lyrical Asset Management LP now owns 1,226,642 shares of the construction company’s stock valued at $435,716,000 after purchasing an additional 8,847 shares during the period. Finally, Capital World Investors lifted its stake in shares of United Rentals by 0.3% in the 1st quarter. Capital World Investors now owns 845,118 shares of the construction company’s stock valued at $300,194,000 after purchasing an additional 2,648 shares during the period. Institutional investors and hedge funds own 90.41% of the company’s stock.

Insider Activity

In related news, Director Jose B. Alvarez acquired 177 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was bought at an average price of $344.65 per share, for a total transaction of $61,003.05. Following the acquisition, the director now directly owns 10,660 shares of the company’s stock, valued at $3,673,969. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

United Rentals Price Performance

Shares of NYSE URI opened at $358.44 on Thursday. The stock has a market capitalization of $24.84 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.60 and a beta of 1.86. The business has a 50-day moving average of $303.05 and a 200-day moving average of $291.44. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.03 and a quick ratio of 0.94. United Rentals, Inc. has a fifty-two week low of $230.54 and a fifty-two week high of $376.94.

United Rentals declared that its board has approved a share repurchase program on Wednesday, October 26th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the construction company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on URI. StockNews.com downgraded United Rentals from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Citigroup increased their price target on United Rentals to $375.00 in a research note on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft cut their price target on United Rentals from $354.00 to $328.00 and set a “hold” rating on the stock in a research note on Thursday, October 13th. UBS Group raised their price objective on United Rentals from $365.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, November 16th. Finally, Robert W. Baird raised their price objective on United Rentals from $318.00 to $365.00 in a research note on Monday, November 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $363.82.

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

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

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