Mitsubishi UFJ Trust & Banking Corp Cuts Stake in United Rentals, Inc. $URI

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of United Rentals, Inc. (NYSE:URI) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,049 shares of the construction company’s stock after selling 1,059 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in United Rentals were worth $28,687,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in United Rentals by 1.0% in the second quarter. Vanguard Group Inc. now owns 7,494,303 shares of the construction company’s stock valued at $5,646,208,000 after acquiring an additional 72,267 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of United Rentals by 71.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after purchasing an additional 780,322 shares during the period. Franklin Resources Inc. lifted its stake in United Rentals by 6.1% in the second quarter. Franklin Resources Inc. now owns 1,231,108 shares of the construction company’s stock valued at $927,517,000 after purchasing an additional 70,870 shares during the last quarter. Alliancebernstein L.P. grew its holdings in United Rentals by 3.7% during the second quarter. Alliancebernstein L.P. now owns 1,030,232 shares of the construction company’s stock valued at $776,177,000 after purchasing an additional 36,991 shares during the period. Finally, Norges Bank purchased a new stake in United Rentals in the second quarter worth $776,102,000. Institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on URI shares. KeyCorp reaffirmed an “overweight” rating on shares of United Rentals in a research report on Wednesday, December 3rd. UBS Group upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price for the company in a research report on Sunday, January 4th. Citigroup lifted their target price on shares of United Rentals from $950.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Wells Fargo & Company upped their price target on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Royal Bank Of Canada set a $1,123.00 price objective on shares of United Rentals in a report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $970.76.

United Rentals Trading Down 4.1%

Shares of United Rentals stock opened at $917.28 on Monday. The company’s 50-day moving average price is $843.26 and its 200-day moving average price is $886.80. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.40. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $1,021.47. The company has a market cap of $58.37 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 1.91 and a beta of 1.69.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.