United Rentals, Inc. (NYSE:URI) Director Jose B. Alvarez Acquires 177 Shares of Stock

United Rentals, Inc. (NYSE:URIGet Rating) Director Jose B. Alvarez purchased 177 shares of the company’s stock in a transaction on Friday, November 18th. The shares were purchased at an average cost of $344.65 per share, with a total value of $61,003.05. Following the transaction, the director now directly owns 10,660 shares in the company, valued at $3,673,969. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

United Rentals Stock Performance

Shares of URI stock opened at $349.09 on Tuesday. The company has a 50 day moving average price of $300.45 and a 200-day moving average price of $290.54. United Rentals, Inc. has a 52 week low of $230.54 and a 52 week high of $386.86. The firm has a market capitalization of $24.20 billion, a PE ratio of 12.82, a P/E/G ratio of 0.58 and a beta of 1.86. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 1.54.

United Rentals announced that its Board of Directors has approved a share repurchase program on Wednesday, October 26th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the construction company to repurchase 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 stock is undervalued.

Institutional Trading of United Rentals

A number of large investors have recently made changes to their positions in the stock. Power Corp of Canada bought a new stake in shares of United Rentals in the third quarter worth approximately $327,000. Warther Private Wealth LLC purchased a new position in shares of United Rentals in the third quarter worth approximately $275,000. Glenmede Trust Co. NA lifted its holdings in United Rentals by 41.1% during the third quarter. Glenmede Trust Co. NA now owns 2,504 shares of the construction company’s stock valued at $676,000 after purchasing an additional 730 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in United Rentals by 2.5% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,508 shares of the construction company’s stock valued at $677,000 after purchasing an additional 61 shares in the last quarter. Finally, Kentucky Retirement Systems lifted its holdings in United Rentals by 3.1% during the third quarter. Kentucky Retirement Systems now owns 5,478 shares of the construction company’s stock valued at $1,480,000 after purchasing an additional 163 shares in the last quarter. 90.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. KeyCorp dropped their target price on shares of United Rentals from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. Robert W. Baird raised their target price on shares of United Rentals from $318.00 to $365.00 in a research report on Monday, November 14th. StockNews.com cut shares of United Rentals from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. UBS Group raised their target price on shares of United Rentals from $365.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, November 16th. Finally, Citigroup raised their target price on shares of United Rentals to $375.00 in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, United Rentals presently has an average rating of “Hold” and an average price target of $361.55.

About United Rentals

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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.

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