Verition Fund Management LLC Has $2.64 Million Holdings in United Rentals, Inc. (URI)
Verition Fund Management LLC boosted its holdings in shares of United Rentals, Inc. (NYSE:URI) by 395.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 17,896 shares of the construction company’s stock after buying an additional 14,285 shares during the period. Verition Fund Management LLC’s holdings in United Rentals were worth $2,642,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of URI. Aperio Group LLC increased its position in United Rentals by 10.7% during the first quarter. Aperio Group LLC now owns 34,295 shares of the construction company’s stock worth $5,924,000 after buying an additional 3,321 shares during the last quarter. Signaturefd LLC acquired a new position in United Rentals during the first quarter worth $128,000. Teacher Retirement System of Texas increased its position in United Rentals by 96.9% during the first quarter. Teacher Retirement System of Texas now owns 45,359 shares of the construction company’s stock worth $7,835,000 after buying an additional 22,327 shares during the last quarter. Gulf International Bank UK Ltd increased its position in United Rentals by 2.9% during the first quarter. Gulf International Bank UK Ltd now owns 26,983 shares of the construction company’s stock worth $4,660,000 after buying an additional 760 shares during the last quarter. Finally, Tredje AP fonden increased its position in United Rentals by 11.9% during the first quarter. Tredje AP fonden now owns 9,200 shares of the construction company’s stock worth $1,589,000 after buying an additional 980 shares during the last quarter. 86.78% of the stock is currently owned by hedge funds and other institutional investors.
URI stock opened at $164.94 on Tuesday. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.68 and a quick ratio of 0.63. United Rentals, Inc. has a 52-week low of $128.09 and a 52-week high of $190.74. The stock has a market cap of $13.98 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 0.59 and a beta of 2.47.
In other United Rentals news, CEO Michael Kneeland sold 30,000 shares of the company’s stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $155.37, for a total transaction of $4,661,100.00. Following the completion of the sale, the chief executive officer now directly owns 219,925 shares in the company, valued at $34,169,747.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald C. Roof sold 5,000 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $167.78, for a total transaction of $838,900.00. Following the completion of the sale, the director now 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. 1.00% of the stock is owned by corporate insiders.
Several research firms have commented on URI. Bank of America set a $200.00 target price on shares of United Rentals and gave the stock a “buy” rating in a research report on Thursday, September 13th. Zacks Investment Research cut shares of United Rentals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 19th. Deutsche Bank set a $158.00 price target on shares of United Rentals and gave the company a “hold” rating in a report on Wednesday, September 5th. UBS Group set a $196.00 price target on shares of United Rentals and gave the company a “buy” rating in a report on Friday, July 13th. Finally, Buckingham Research upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a report on Friday, July 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $185.45.
United Rentals Profile
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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