Envestnet Asset Management Inc. Has $2.11 Million Position in United Rentals, Inc. (URI)
Envestnet Asset Management Inc. reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 13.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,174 shares of the construction company’s stock after selling 2,324 shares during the quarter. Envestnet Asset Management Inc.’s holdings in United Rentals were worth $2,105,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Americafirst Capital Management LLC purchased a new stake in shares of United Rentals during the 2nd quarter worth $151,000. First Manhattan Co. lifted its stake in shares of United Rentals by 42.9% during the 3rd quarter. First Manhattan Co. now owns 1,415 shares of the construction company’s stock worth $196,000 after purchasing an additional 425 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of United Rentals during the 3rd quarter worth $202,000. Calamos Advisors LLC purchased a new stake in shares of United Rentals during the 3rd quarter worth $208,000. Finally, Harbor Advisors LLC purchased a new stake in shares of United Rentals during the 3rd quarter worth $208,000. Hedge funds and other institutional investors own 91.75% of the company’s stock.
United Rentals, Inc. (NYSE:URI) opened at $164.29 on Friday. 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 firm has a market capitalization of $14,160.00, a PE ratio of 16.23, a PEG ratio of 0.82 and a beta of 2.67. United Rentals, Inc. has a 1-year low of $100.62 and a 1-year high of $165.85.
United Rentals declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 18th that permits the company to repurchase $373.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Several research analysts recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $171.00 target price on shares of United Rentals in a research report on Thursday. UBS reaffirmed a “neutral” rating and set a $125.00 target price on shares of United Rentals in a research report on Sunday, August 20th. Jefferies Group upped their target price on United Rentals from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Buckingham Research assumed coverage on United Rentals in a research report on Tuesday, November 21st. They set a “neutral” rating and a $154.00 target price on the stock. Finally, Barclays assumed coverage on United Rentals in a research report on Tuesday. They set an “underweight” rating and a $150.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. United Rentals currently has an average rating of “Buy” and an average target price of $152.04.
In other news, insider Michael Kneeland sold 30,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $144.72, for a total value of $4,341,600.00. Following the transaction, the insider now directly owns 272,292 shares of the company’s stock, valued at $39,406,098.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew John Flannery sold 22,324 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $147.44, for a total value of $3,291,450.56. Following the completion of the transaction, the chief operating officer now directly owns 31,243 shares in the company, valued at $4,606,467.92. The disclosure for this sale can be found here. Insiders sold 91,760 shares of company stock worth $13,873,111 over the last three months. Corporate insiders own 1.20% of the company’s stock.
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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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