United Rentals, Inc. (NYSE:URI) Shares Bought by First Manhattan Co.

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First Manhattan Co. raised its holdings in shares of United Rentals, Inc. (NYSE:URI) by 2,076.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,320 shares of the construction company’s stock after purchasing an additional 41,330 shares during the period. First Manhattan Co. owned about 0.05% of United Rentals worth $7,087,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC grew its stake in shares of United Rentals by 131.1% in the second quarter. Janus Henderson Group PLC now owns 995,741 shares of the construction company’s stock worth $146,992,000 after purchasing an additional 564,954 shares in the last quarter. Morgan Stanley grew its position in United Rentals by 21.6% in the 2nd quarter. Morgan Stanley now owns 755,594 shares of the construction company’s stock valued at $111,539,000 after buying an additional 134,101 shares in the last quarter. Bank of Montreal Can bought a new position in United Rentals in the 2nd quarter valued at about $111,154,000. Dimensional Fund Advisors LP boosted its holdings in shares of United Rentals by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 732,477 shares of the construction company’s stock valued at $108,130,000 after acquiring an additional 8,936 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of United Rentals by 38.5% in the first quarter. Allianz Asset Management GmbH now owns 676,499 shares of the construction company’s stock valued at $116,852,000 after acquiring an additional 188,047 shares in the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.

In other United Rentals news, Director Jose B. Alvarez acquired 544 shares of United Rentals stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average price of $107.45 per share, with a total value of $58,452.80. Following the purchase, the director now owns 2,413 shares in the company, valued at $259,276.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald C. Roof sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $167.78, for a total value of $838,900.00. Following the completion of the sale, the director now directly owns 12,564 shares of the company’s stock, valued at approximately $2,107,987.92. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Shares of URI traded down $0.05 during midday trading on Friday, hitting $126.67. The stock had a trading volume of 2,123,111 shares, compared to its average volume of 3,022,612. United Rentals, Inc. has a fifty-two week low of $106.48 and a fifty-two week high of $190.74. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.46 and a beta of 2.61.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 17th. The construction company reported $4.74 EPS for the quarter, topping the Zacks’ consensus estimate of $4.56 by $0.18. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.03 billion. United Rentals had a return on equity of 39.46% and a net margin of 21.96%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the company posted $3.25 EPS. Analysts anticipate that United Rentals, Inc. will post 16.17 earnings per share for the current year.

Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of United Rentals from a “buy” rating to a “hold” rating in a report on Monday, July 30th. ValuEngine lowered United Rentals from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Bank of America set a $175.00 target price on United Rentals and gave the company a “buy” rating in a research note on Thursday, October 18th. Citigroup decreased their target price on United Rentals from $200.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, October 19th. Finally, Royal Bank of Canada reduced their price objective on shares of United Rentals to $188.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $169.92.

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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.

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