CenterBook Partners LP Makes New Investment in United Rentals, Inc. (NYSE:URI)

CenterBook Partners LP acquired a new stake in United Rentals, Inc. (NYSE:URI - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 5,348 shares of the construction company's stock, valued at approximately $3,767,000.

A number of other hedge funds have also bought and sold shares of URI. APG Asset Management N.V. grew its stake in United Rentals by 339.6% during the fourth quarter. APG Asset Management N.V. now owns 42,857 shares of the construction company's stock valued at $29,155,000 after acquiring an additional 33,107 shares in the last quarter. Muhlenkamp & Co. Inc. boosted its holdings in United Rentals by 0.3% in the 4th quarter. Muhlenkamp & Co. Inc. now owns 15,375 shares of the construction company's stock valued at $10,830,000 after purchasing an additional 39 shares during the period. Advisory Services Network LLC grew its position in shares of United Rentals by 1.3% during the 4th quarter. Advisory Services Network LLC now owns 8,732 shares of the construction company's stock valued at $6,151,000 after purchasing an additional 109 shares in the last quarter. FIL Ltd increased its holdings in shares of United Rentals by 58.9% in the fourth quarter. FIL Ltd now owns 8,929 shares of the construction company's stock worth $6,290,000 after purchasing an additional 3,309 shares during the period. Finally, Shelton Capital Management raised its position in shares of United Rentals by 34.7% in the fourth quarter. Shelton Capital Management now owns 516 shares of the construction company's stock worth $363,000 after buying an additional 133 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts recently weighed in on URI shares. JPMorgan Chase & Co. decreased their price objective on shares of United Rentals from $1,000.00 to $750.00 and set an "overweight" rating on the stock in a research report on Monday. Bank of America cut their target price on United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Evercore ISI decreased their target price on shares of United Rentals from $1,004.00 to $974.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Baird R W upgraded shares of United Rentals from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 14th. Finally, Robert W. Baird upgraded United Rentals from an "underperform" rating to a "neutral" rating and set a $658.00 price target on the stock in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $734.29.

Insider Activity

In related news, CFO William E. Grace sold 1,100 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.53% of the company's stock.

United Rentals Price Performance

NYSE URI traded up $2.54 during trading hours on Tuesday, reaching $599.37. The company's stock had a trading volume of 210,515 shares, compared to its average volume of 589,365. The company has a market capitalization of $39.16 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.43 and a beta of 1.72. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a 1 year low of $525.91 and a 1 year high of $896.98. The firm's 50-day moving average price is $641.47 and its 200-day moving average price is $738.65.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, equities research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from United Rentals's previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.19%. United Rentals's payout ratio is 18.48%.

United Rentals Company Profile

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.