Flagship Harbor Advisors LLC trimmed its position in United Rentals, Inc. (NYSE:URI) by 12.7% in the 1st quarter, HoldingsChannel reports. The fund owned 1,958 shares of the construction company’s stock after selling 286 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in United Rentals were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its stake in United Rentals by 8,780.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,322,512 shares of the construction company’s stock worth $62,000 after purchasing an additional 6,251,317 shares during the period. BlackRock Inc. boosted its stake in United Rentals by 2.6% in the 4th quarter. BlackRock Inc. now owns 5,930,671 shares of the construction company’s stock worth $608,071,000 after purchasing an additional 148,206 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in United Rentals by 37.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,375,290 shares of the construction company’s stock worth $243,539,000 after purchasing an additional 641,130 shares during the period. JPMorgan Chase & Co. boosted its stake in United Rentals by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,872,326 shares of the construction company’s stock worth $306,312,000 after purchasing an additional 112,939 shares during the period. Finally, FMR LLC boosted its stake in United Rentals by 2.9% in the 4th quarter. FMR LLC now owns 1,557,250 shares of the construction company’s stock worth $159,665,000 after purchasing an additional 44,492 shares during the period. 87.51% of the stock is owned by institutional investors.
URI stock opened at $136.00 on Friday. United Rentals, Inc. has a 1-year low of $94.28 and a 1-year high of $175.75. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 3.19. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 0.36 and a beta of 2.49.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded United Rentals from a “hold” rating to a “buy” rating and set a $143.00 price target for the company in a research note on Wednesday, January 30th. OTR Global downgraded United Rentals to a “positive” rating in a research note on Monday, April 1st. Finally, Standpoint Research downgraded United Rentals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $156.82.
In other news, CEO Michael Kneeland sold 30,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $132.73, for a total transaction of $3,981,900.00. Following the completion of the transaction, the chief executive officer now directly owns 202,237 shares in the company, valued at approximately $26,842,917.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jessica Graziano sold 547 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $123.36, for a total value of $67,477.92. Following the transaction, the chief financial officer now owns 11,247 shares of the company’s stock, valued at $1,387,429.92. The disclosure for this sale can be found here. Insiders have sold a total of 64,347 shares of company stock valued at $8,276,837 over the last quarter. Corporate insiders own 1.00% of the company’s stock.
United Rentals Profile
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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