Global X MANAGEMENT CO LLC boosted its stake in United Rentals, Inc. (NYSE:URI) by 20.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,559 shares of the construction company’s stock after acquiring an additional 939 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in United Rentals were worth $771,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of URI. State Street Corp increased its stake in United Rentals by 15.0% in the 2nd quarter. State Street Corp now owns 5,843,162 shares of the construction company’s stock valued at $658,586,000 after buying an additional 763,469 shares during the last quarter. Neuberger Berman Group LLC increased its stake in United Rentals by 320.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 760,094 shares of the construction company’s stock valued at $85,670,000 after buying an additional 579,400 shares during the last quarter. Pioneer Investment Management Inc. increased its stake in United Rentals by 127.4% in the 2nd quarter. Pioneer Investment Management Inc. now owns 990,759 shares of the construction company’s stock valued at $111,669,000 after buying an additional 555,089 shares during the last quarter. Janus Henderson Group PLC increased its stake in United Rentals by 4,154.0% in the 2nd quarter. Janus Henderson Group PLC now owns 552,510 shares of the construction company’s stock valued at $62,273,000 after buying an additional 539,522 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in United Rentals by 282.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 570,236 shares of the construction company’s stock valued at $64,272,000 after buying an additional 421,101 shares during the last quarter. Hedge funds and other institutional investors own 91.91% of the company’s stock.

In related news, insider Michael Kneeland sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $144.72, for a total transaction of $4,341,600.00. Following the completion of the transaction, the insider now directly owns 272,292 shares in the company, valued at approximately $39,406,098.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Matthew John Flannery sold 22,324 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $147.44, for a total transaction of $3,291,450.56. Following the transaction, the chief operating officer now owns 31,243 shares of the company’s stock, valued at $4,606,467.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,433 shares of company stock valued at $9,434,570. 1.20% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on the stock. KeyCorp reiterated a “hold” rating on shares of United Rentals in a research note on Friday, October 20th. Citigroup Inc. boosted their price objective on shares of United Rentals from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. UBS AG set a $150.00 price objective on shares of United Rentals and gave the stock a “hold” rating in a research note on Thursday, October 19th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of United Rentals in a research note on Thursday, October 19th. Finally, Bank of America Corporation set a $165.00 price objective on shares of United Rentals and gave the stock a “buy” rating in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. United Rentals presently has a consensus rating of “Buy” and an average target price of $144.97.

Shares of United Rentals, Inc. (NYSE:URI) opened at $148.36 on Friday. United Rentals, Inc. has a twelve month low of $90.77 and a twelve month high of $149.45. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 3.47. The firm has a market cap of $12,126.31, a P/E ratio of 14.44, a PEG ratio of 0.87 and a beta of 2.65.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 18th. The construction company reported $3.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.27. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. United Rentals had a net margin of 9.64% and a return on equity of 44.81%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 EPS. research analysts forecast that United Rentals, Inc. will post 10.49 earnings per share for the current year.

United Rentals declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 18th that allows the company to repurchase $373.00 million in shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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About United Rentals

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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Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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