Latest Stocks: Bank of New York Mellon Corp Has $98.28 Million Position in United Rentals, Inc. (URI)

Latest Stocks: Bank of New York Mellon Corp Has $98.28 Million Position in United Rentals, Inc. (URI)

Bank of New York Mellon Corp reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 785,920 shares of the construction company’s stock after selling 32,874 shares during the period. Bank of New York Mellon Corp owned 0.93% of United Rentals worth $98,279,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of URI. Whittier Trust Co. raised its stake in shares of United Rentals by 7.2% in the first quarter. Whittier Trust Co. now owns 894 shares of the construction company’s stock valued at $112,000 after buying an additional 60 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in United Rentals during the first quarter valued at approximately $127,000. Bessemer Group Inc. increased its position in United Rentals by 160.0% in the fourth quarter. Bessemer Group Inc. now owns 1,300 shares of the construction company’s stock valued at $138,000 after buying an additional 800 shares during the period. Contravisory Investment Management Inc. increased its position in United Rentals by 48.5% in the first quarter. Contravisory Investment Management Inc. now owns 1,295 shares of the construction company’s stock valued at $162,000 after buying an additional 423 shares during the period. Finally, Dubuque Bank & Trust Co. increased its position in United Rentals by 181.6% in the first quarter. Dubuque Bank & Trust Co. now owns 1,557 shares of the construction company’s stock valued at $195,000 after buying an additional 1,004 shares during the period. Hedge funds and other institutional investors own 95.15% of the company’s stock.

United Rentals, Inc. (NYSE:URI) opened at 105.74 on Tuesday. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 15.67 and a beta of 2.49. The firm has a 50 day moving average of $111.32 and a 200-day moving average of $115.24. United Rentals, Inc. has a 52-week low of $61.78 and a 52-week high of $134.28.

URI has been the topic of several research reports. Axiom Securities restated a “sell” rating on shares of United Rentals in a research report on Friday, March 3rd. Royal Bank of Canada reiterated a “hold” rating and issued a $130.00 target price on shares of United Rentals in a research report on Wednesday, April 12th. Vetr upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $132.19 target price on the stock in a research report on Wednesday, March 8th. Deutsche Bank AG began coverage on shares of United Rentals in a research report on Wednesday, April 5th. They issued a “hold” rating and a $125.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $138.00 price objective on the stock in a research report on Thursday, March 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $120.16. In other news, VP Dale A. Asplund sold 6,654 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $124.30, for a total value of $827,092.20. Following the completion of the transaction, the vice president now owns 21,769 shares in the company, valued at $2,705,886.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Matthew John Flannery sold 18,785 shares of United Rentals stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $124.47, for a total value of $2,338,168.95. Following the sale, the chief operating officer now owns 30,426 shares of the company’s stock, valued at approximately $3,787,124.22. The disclosure for this sale can be found here. Insiders sold 27,271 shares of company stock valued at $3,393,144 in the last quarter. 1.30% of the stock is currently owned by company insiders.

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