Bank of Nova Scotia Sells 3,618 Shares of United Rentals, Inc. (NYSE:URI)

Bank of Nova Scotia cut its stake in shares of United Rentals, Inc. (NYSE:URIGet Rating) by 58.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,604 shares of the construction company’s stock after selling 3,618 shares during the quarter. Bank of Nova Scotia’s holdings in United Rentals were worth $632,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of URI. Vanguard Group Inc. raised its position in shares of United Rentals by 2.3% during the first quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock worth $2,905,379,000 after purchasing an additional 186,931 shares during the period. BlackRock Inc. grew its holdings in shares of United Rentals by 1.1% during the first quarter. BlackRock Inc. now owns 5,450,665 shares of the construction company’s stock valued at $1,936,131,000 after buying an additional 59,109 shares during the last quarter. Capital Research Global Investors increased its position in shares of United Rentals by 55.7% during the first quarter. Capital Research Global Investors now owns 2,693,664 shares of the construction company’s stock worth $956,818,000 after acquiring an additional 964,105 shares in the last quarter. Lyrical Asset Management LP raised its holdings in shares of United Rentals by 0.7% in the 1st quarter. Lyrical Asset Management LP now owns 1,226,642 shares of the construction company’s stock worth $435,716,000 after acquiring an additional 8,847 shares during the last quarter. Finally, Capital World Investors lifted its position in United Rentals by 0.3% in the 1st quarter. Capital World Investors now owns 845,118 shares of the construction company’s stock valued at $300,194,000 after acquiring an additional 2,648 shares in the last quarter. 90.41% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Price Performance

Shares of NYSE URI opened at $345.70 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 1.54. The stock has a fifty day simple moving average of $299.73 and a two-hundred day simple moving average of $290.22. United Rentals, Inc. has a 1-year low of $230.54 and a 1-year high of $386.86. The firm has a market cap of $23.96 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.58 and a beta of 1.86.

United Rentals declared that its board has authorized a stock repurchase program on Wednesday, October 26th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the construction company to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently commented on URI. UBS Group increased their price objective on United Rentals from $365.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, November 16th. Morgan Stanley raised their price objective on United Rentals from $300.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, October 28th. StockNews.com lowered shares of United Rentals from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Robert W. Baird raised their price target on shares of United Rentals from $318.00 to $365.00 in a research report on Monday, November 14th. Finally, Citigroup upped their price objective on shares of United Rentals to $375.00 in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, United Rentals presently has a consensus rating of “Hold” and an average target price of $361.55.

United Rentals Profile

(Get Rating)

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.

Featured Articles

Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URIGet Rating).

Institutional Ownership by Quarter for United Rentals (NYSE:URI)

Receive News & Ratings for United Rentals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Rentals and related companies with MarketBeat.com's FREE daily email newsletter.