Northwestern Mutual Investment Management Company LLC trimmed its holdings in shares of United Rentals, Inc. (NYSE:URI) by 19.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,383 shares of the construction company’s stock after selling 3,706 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in United Rentals were worth $2,657,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its position in United Rentals by 1,190.0% during the first quarter. Moneta Group Investment Advisors LLC now owns 645 shares of the construction company’s stock valued at $111,000 after buying an additional 595 shares in the last quarter. Signaturefd LLC acquired a new position in United Rentals during the first quarter valued at approximately $128,000. Optimum Investment Advisors acquired a new position in shares of United Rentals during the first quarter worth $164,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of United Rentals by 63.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 964 shares of the construction company’s stock worth $166,000 after purchasing an additional 374 shares in the last quarter. Finally, Cypress Capital Management LLC WY lifted its position in shares of United Rentals by 55.2% during the first quarter. Cypress Capital Management LLC WY now owns 1,195 shares of the construction company’s stock worth $206,000 after purchasing an additional 425 shares in the last quarter. 85.74% of the stock is currently owned by hedge funds and other institutional investors.
NYSE URI opened at $166.64 on Thursday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.92 and a current ratio of 0.97. The firm has a market cap of $14.04 billion, a PE ratio of 15.74, a PEG ratio of 0.59 and a beta of 2.55. United Rentals, Inc. has a 52 week low of $100.62 and a 52 week high of $190.74.
United Rentals announced that its Board of Directors has initiated a share repurchase program on Wednesday, April 18th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the construction company to buy up to 9.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
A number of research analysts have recently commented on the stock. ValuEngine raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Bank of America reduced their target price on shares of United Rentals from $230.00 to $186.00 and set a “buy” rating on the stock in a research report on Thursday, May 3rd. Finally, Morgan Stanley assumed coverage on shares of United Rentals in a research report on Friday, March 2nd. They set an “overweight” rating and a $194.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $188.64.
In related news, CEO Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction on Friday, April 20th. The shares were sold at an average price of $169.00, for a total value of $5,070,000.00. Following the completion of the sale, the chief executive officer now owns 249,925 shares in the company, valued at $42,237,325. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.
About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power, and Pump. The General Rentals segment engages in the rental of general construction and industrial equipment, such as 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.
Receive News & Ratings for United Rentals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Rentals and related companies with MarketBeat.com's FREE daily email newsletter.