Anchor Bolt Capital LP decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 47.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 249,522 shares of the construction company’s stock after selling 229,449 shares during the period. United Rentals makes up approximately 1.4% of Anchor Bolt Capital LP’s holdings, making the stock its 29th largest holding. Anchor Bolt Capital LP owned approximately 0.30% of United Rentals worth $34,619,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Manhattan Co. grew its stake in shares of United Rentals by 4,204.3% during the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock valued at $111,000 after buying an additional 967 shares during the last quarter. Americafirst Capital Management LLC bought a new position in shares of United Rentals during the second quarter valued at about $151,000. IFP Advisors Inc grew its stake in shares of United Rentals by 40.4% during the second quarter. IFP Advisors Inc now owns 1,662 shares of the construction company’s stock valued at $187,000 after buying an additional 478 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of United Rentals by 8.8% during the second quarter. Pacer Advisors Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after buying an additional 145 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of United Rentals during the third quarter valued at about $202,000. Institutional investors and hedge funds own 91.74% of the company’s stock.
United Rentals, Inc. (URI) traded up $3.50 during midday trading on Thursday, hitting $161.78. The company had a trading volume of 327,543 shares, compared to its average volume of 1,568,874. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 3.47. The company has a market capitalization of $13,463.43, a PE ratio of 16.03, a PEG ratio of 0.81 and a beta of 2.67. United Rentals, Inc. has a 12 month low of $100.62 and a 12 month high of $163.92.
United Rentals announced that its board has authorized a stock buyback plan on Wednesday, October 18th that permits the company to buyback $373.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
URI has been the topic of a number of recent research reports. BidaskClub cut United Rentals from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Stifel Nicolaus raised United Rentals from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research note on Friday, August 18th. Jefferies Group reaffirmed a “buy” rating on shares of United Rentals in a research note on Friday, August 18th. UBS reaffirmed a “neutral” rating and set a $125.00 price objective on shares of United Rentals in a research note on Sunday, August 20th. Finally, ValuEngine raised United Rentals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. United Rentals has an average rating of “Buy” and a consensus price target of $145.57.
In other United Rentals news, Director Donald C. Roof sold 757 shares of United Rentals stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $159.80, for a total transaction of $120,968.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Donald C. Roof sold 4,500 shares of United Rentals stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $143.95, for a total value of $647,775.00. The disclosure for this sale can be found here. Insiders sold 69,440 shares of company stock worth $10,055,421 over the last three months. 1.20% of the stock is owned by insiders.
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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