Nordea Investment Management AB lifted its stake in shares of United Rentals, Inc. (NYSE:URI) by 163.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,867 shares of the construction company’s stock after purchasing an additional 132,692 shares during the quarter. Nordea Investment Management AB owned about 0.27% of United Rentals worth $21,928,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in United Rentals by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,872,326 shares of the construction company’s stock valued at $306,312,000 after purchasing an additional 112,939 shares in the last quarter. CI Investments Inc. bought a new stake in United Rentals during the 3rd quarter valued at $23,669,000. American International Group Inc. raised its stake in United Rentals by 4.7% during the 3rd quarter. American International Group Inc. now owns 31,992 shares of the construction company’s stock valued at $5,234,000 after acquiring an additional 1,430 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in United Rentals during the 3rd quarter valued at $858,000. Finally, Canada Pension Plan Investment Board raised its stake in United Rentals by 99.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 86,465 shares of the construction company’s stock valued at $14,146,000 after acquiring an additional 43,089 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.
Shares of URI traded up $10.24 during midday trading on Friday, reaching $136.00. The stock had a trading volume of 4,772,775 shares, compared to its average volume of 1,717,227. United Rentals, Inc. has a 52 week low of $94.28 and a 52 week high of $175.75. The company has a debt-to-equity ratio of 3.31, a quick ratio of 0.78 and a current ratio of 0.77. The company has a market capitalization of $10.69 billion, a PE ratio of 8.36, a P/E/G ratio of 0.40 and a beta of 2.49.
Several analysts have weighed in on the company. Standpoint Research downgraded United Rentals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Zacks Investment Research raised United Rentals from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a research note on Wednesday, January 30th. Finally, OTR Global downgraded United Rentals to a “positive” rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. United Rentals has an average rating of “Buy” and a consensus target price of $156.82.
In related news, EVP Craig Adam Pintoff sold 4,566 shares of United Rentals stock in a transaction on Friday, March 8th. The stock was sold at an average price of $123.17, for a total value of $562,394.22. Following the transaction, the executive vice president now directly owns 17,880 shares in the company, valued at approximately $2,202,279.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shiv Singh bought 390 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The stock was bought at an average price of $124.72 per share, for a total transaction of $48,640.80. Following the completion of the acquisition, the director now directly owns 2,803 shares in the company, valued at $349,590.16. The disclosure for this purchase can be found here. Insiders sold a total of 64,347 shares of company stock worth $8,276,837 over the last 90 days. Insiders own 1.00% of the company’s stock.
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United Rentals Company Profile
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power and Fluid Solutions. The General Rentals segment rents general construction and industrial equipment, including 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.
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