First Republic Investment Management Inc. increased its holdings in shares of United Rentals, Inc. (NYSE:URI – Get Rating) by 11.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 90,655 shares of the construction company’s stock after acquiring an additional 9,571 shares during the quarter. First Republic Investment Management Inc.’s holdings in United Rentals were worth $24,488,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the business. Royal Bank of Canada raised its holdings in United Rentals by 49.1% in the 1st quarter. Royal Bank of Canada now owns 672,534 shares of the construction company’s stock valued at $238,890,000 after acquiring an additional 221,613 shares in the last quarter. Vanguard Group Inc. raised its holdings in United Rentals by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock valued at $2,905,379,000 after acquiring an additional 186,931 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in United Rentals by 4,313.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 171,808 shares of the construction company’s stock valued at $46,409,000 after acquiring an additional 167,915 shares in the last quarter. Amundi raised its holdings in shares of United Rentals by 60.7% in the 2nd quarter. Amundi now owns 388,233 shares of the construction company’s stock worth $96,487,000 after buying an additional 146,657 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of United Rentals by 67.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 361,084 shares of the construction company’s stock worth $87,711,000 after buying an additional 145,843 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.
United Rentals Stock Up 0.5 %
NYSE URI opened at $393.80 on Wednesday. The firm has a market cap of $27.29 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 0.57 and a beta of 1.81. United Rentals, Inc. has a one year low of $230.54 and a one year high of $439.47. The stock’s 50 day simple moving average is $362.87 and its 200 day simple moving average is $320.82. 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 declared that its board has authorized a share buyback plan on Wednesday, October 26th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
A number of brokerages have recently issued reports on URI. Wells Fargo & Company increased their target price on United Rentals from $435.00 to $440.00 and gave the stock an “overweight” rating in a report on Tuesday, January 10th. Morgan Stanley increased their target price on United Rentals from $320.00 to $404.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 14th. Citigroup increased their target price on United Rentals to $415.00 in a report on Wednesday, December 14th. StockNews.com cut United Rentals from a “buy” rating to a “hold” rating in a report on Friday, January 13th. Finally, OTR Global raised United Rentals from a “mixed” rating to a “positive” rating in a report on Friday, December 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $394.10.
Insider Buying and Selling at United Rentals
In other news, Director Jose B. Alvarez acquired 177 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were purchased at an average cost of $344.65 per share, for a total transaction of $61,003.05. Following the transaction, the director now owns 10,660 shares of the company’s stock, valued at $3,673,969. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.
United Rentals Profile
United Rentals, Inc engages in the equipment rental business. The company rents equipment to construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities. It operates through the General Rentals and Specialty segments. The General Rentals segment includes the rental of general construction and industrial equipment, earthmoving equipment, material handling equipment, aerial work platforms, and general tools and light equipment.
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