Essex Investment Management Co. LLC lowered its position in shares of United Rentals, Inc. (NYSE:URI) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,539 shares of the construction company’s stock after selling 1,740 shares during the quarter. United Rentals comprises approximately 0.9% of Essex Investment Management Co. LLC’s portfolio, making the stock its 20th biggest position. Essex Investment Management Co. LLC owned 0.06% of United Rentals worth $6,457,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in URI. State Street Corp lifted its position in United Rentals by 15.0% during the second 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 period. Neuberger Berman Group LLC lifted its position in United Rentals by 320.7% during the second 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 period. Pioneer Investment Management Inc. lifted its position in United Rentals by 127.4% during the second 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 period. Janus Henderson Group PLC lifted its position in United Rentals by 4,154.0% during the second 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 period. Finally, PNC Financial Services Group Inc. lifted its position in United Rentals by 282.4% during the second 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 period. 93.28% of the stock is owned by institutional investors and hedge funds.

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United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 18th. The construction company reported $3.25 EPS for the quarter, topping the consensus estimate of $2.98 by $0.27. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. United Rentals’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $2.58 earnings per share.

United Rentals declared that its board has authorized a stock 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 buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

URI has been the subject of several recent analyst reports. Zacks Investment Research lowered United Rentals from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a research report on Thursday, July 13th. Royal Bank Of Canada raised United Rentals from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $128.00 to $138.00 in a research report on Monday, July 17th. BidaskClub raised United Rentals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $145.00 price target (up previously from $130.00) on shares of United Rentals in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. United Rentals currently has a consensus rating of “Buy” and a consensus target price of $144.97.

In other United Rentals news, Director Filippo Passerini sold 3,308 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $143.24, for a total value of $473,837.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William B. Plummer sold 5,301 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $128.26, for a total value of $679,906.26. Following the completion of the sale, the chief financial officer now directly owns 38,055 shares in the company, valued at $4,880,934.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,609 shares of company stock worth $5,495,344. 1.20% of the stock is owned by corporate insiders.

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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