Three Peaks Capital Management LLC Acquires 5,320 Shares of United Rentals, Inc. (URI)

Three Peaks Capital Management LLC grew its holdings in United Rentals, Inc. (NYSE:URI) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,479 shares of the construction company’s stock after buying an additional 5,320 shares during the quarter. United Rentals accounts for approximately 1.8% of Three Peaks Capital Management LLC’s holdings, making the stock its 15th biggest holding. Three Peaks Capital Management LLC owned 0.07% of United Rentals worth $10,274,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Lincoln National Corp acquired a new position in shares of United Rentals in the 1st quarter valued at $308,000. JPMorgan Chase & Co. raised its stake in shares of United Rentals by 21.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,576,525 shares of the construction company’s stock valued at $272,313,000 after buying an additional 275,754 shares in the last quarter. IFP Advisors Inc raised its stake in shares of United Rentals by 148.8% in the 1st quarter. IFP Advisors Inc now owns 4,185 shares of the construction company’s stock valued at $723,000 after buying an additional 2,503 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of United Rentals in the 4th quarter valued at $1,882,000. Finally, Millennium Management LLC raised its stake in shares of United Rentals by 124.8% in the 4th quarter. Millennium Management LLC now owns 265,767 shares of the construction company’s stock valued at $45,688,000 after buying an additional 147,542 shares in the last quarter. Institutional investors own 85.73% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Bank of America lowered their target price on shares of United Rentals from $230.00 to $186.00 and set a “buy” rating on the stock in a report on Thursday, May 3rd. ValuEngine lowered shares of United Rentals from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Morgan Stanley assumed coverage on shares of United Rentals in a report on Friday, March 2nd. They issued an “overweight” rating and a $194.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $188.64.

United Rentals stock opened at $165.79 on Thursday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.92 and a current ratio of 0.97. United Rentals, Inc. has a 1 year low of $100.62 and a 1 year high of $190.74. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 0.57 and a beta of 2.55.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 18th. The construction company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.53. United Rentals had a net margin of 20.23% and a return on equity of 39.19%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the company posted $1.63 EPS. The company’s revenue was up 27.9% compared to the same quarter last year. analysts forecast that United Rentals, Inc. will post 15.49 earnings per share for the current year.

United Rentals announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 18th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 9.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

In related news, EVP Dale A. Asplund sold 1,229 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $188.13, for a total value of $231,211.77. Following the sale, the executive vice president now directly owns 16,116 shares in the company, valued at approximately $3,031,903.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Kneeland sold 30,000 shares of the stock in a transaction that occurred on Friday, April 20th. The shares were sold at an average price of $169.00, for a total transaction of $5,070,000.00. Following the completion of the sale, the chief executive officer now owns 249,925 shares in the company, valued at $42,237,325. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,229 shares of company stock worth $14,695,212. Corporate insiders own 1.00% of the company’s stock.

About United Rentals

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.

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

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