Bank of New York Mellon Corp Has $88.81 Million Stake in United Rentals, Inc. (URI)

Bank of New York Mellon Corp lessened its position in United Rentals, Inc. (NYSE:URI) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 601,585 shares of the construction company’s stock after selling 36,536 shares during the period. Bank of New York Mellon Corp owned about 0.73% of United Rentals worth $88,806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in shares of United Rentals during the 2nd quarter worth about $111,154,000. Janus Henderson Group PLC boosted its holdings in shares of United Rentals by 131.1% during the 2nd quarter. Janus Henderson Group PLC now owns 995,741 shares of the construction company’s stock worth $146,992,000 after buying an additional 564,954 shares during the period. J. L. Bainbridge & Co. Inc. bought a new stake in shares of United Rentals during the 2nd quarter worth about $55,798,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of United Rentals by 2,369.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 384,866 shares of the construction company’s stock worth $56,814,000 after buying an additional 369,280 shares during the period. Finally, Columbus Hill Capital Management L.P. bought a new stake in shares of United Rentals during the 2nd quarter worth about $53,143,000. 87.61% of the stock is owned by institutional investors.

In other United Rentals news, Director Jose B. Alvarez acquired 544 shares of the company’s stock in a transaction on Friday, October 26th. The stock was acquired at an average price of $107.45 per share, for a total transaction of $58,452.80. Following the purchase, the director now directly owns 2,413 shares of the company’s stock, valued at $259,276.85. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jenne K. Britell acquired 435 shares of the company’s stock in a transaction on Monday, October 22nd. The stock was acquired at an average price of $115.07 per share, with a total value of $50,055.45. Following the purchase, the director now directly owns 27,497 shares in the company, valued at $3,164,079.79. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Shares of United Rentals stock opened at $126.67 on Friday. United Rentals, Inc. has a twelve month low of $106.48 and a twelve month high of $190.74. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 0.45 and a beta of 2.61.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 17th. The construction company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.56 by $0.18. United Rentals had a net margin of 21.96% and a return on equity of 39.46%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company earned $3.25 EPS. The business’s revenue was up 19.8% on a year-over-year basis. As a group, equities research analysts expect that United Rentals, Inc. will post 16.17 EPS for the current fiscal year.

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

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

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