Checchi Capital Advisers LLC Cuts Stake in United Rentals, Inc. (NYSE:URI)

Checchi Capital Advisers LLC cut its stake in United Rentals, Inc. (NYSE:URIGet Rating) by 33.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in URI. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of United Rentals during the first quarter valued at about $32,000. HBC Financial Services PLLC acquired a new stake in shares of United Rentals during the first quarter valued at about $32,000. Evoke Wealth LLC grew its stake in shares of United Rentals by 173.8% during the second quarter. Evoke Wealth LLC now owns 115 shares of the construction company’s stock valued at $28,000 after acquiring an additional 73 shares in the last quarter. Covestor Ltd grew its stake in shares of United Rentals by 202.5% during the first quarter. Covestor Ltd now owns 121 shares of the construction company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Finally, Clear Street Markets LLC grew its stake in shares of United Rentals by 184.6% during the second quarter. Clear Street Markets LLC now owns 148 shares of the construction company’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. 90.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. KeyCorp raised their target price on United Rentals from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday. Robert W. Baird raised their target price on United Rentals from $318.00 to $365.00 in a research note on Monday, November 14th. StockNews.com downgraded United Rentals from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Morgan Stanley lifted their price target on 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 decreased their price target on United Rentals from $354.00 to $328.00 and set a “hold” rating for the company in a research note on Thursday, October 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, United Rentals currently has a consensus rating of “Hold” and a consensus target price of $363.82.

United Rentals Stock Performance

Shares of NYSE URI opened at $358.44 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 1.54. The firm’s 50-day moving average price is $303.05 and its two-hundred day moving average price is $291.44. United Rentals, Inc. has a 52-week low of $230.54 and a 52-week high of $376.94. The stock has a market capitalization 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 authorized a share buyback plan on Wednesday, October 26th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other United Rentals news, Director Jose B. Alvarez bought 177 shares of the business’s stock in a transaction on Friday, November 18th. The shares were purchased at an average price of $344.65 per share, with a total value of $61,003.05. Following the completion of the acquisition, the director now directly owns 10,660 shares of the company’s stock, valued at approximately $3,673,969. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate 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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