Shares of United Rentals (URI) wrapped up Friday’s trading day with a gain of almost 2 percent. The stock is TheStreet’s Move of the Day. Shares saw a boost after Reuters reported activist investor Jana Partners scooped up a 6 percent stake in the equipment rental company. Nik Mittal, one of Jana’s partners, spoke at the 2015 Carter Burden Investment Conference on Thursday, according to the report, and said the company was a ‘leader in equipment rental.’ During first-quarter, the company said rental revenue rose 11.9% percent year-over-year, while owned equipment rental revenue jumped 12 percent, in an earnings report back in April. Though United Rentals lowered its revenue outlook to a range from $6 billion to $6.1 billion, compared to a previously reported $6 billion to $6.2 billion. At $91.94 per share, the stock trades at about 14 times more than its pre-share earnings last year, according to data compiled by Bloomberg. TheStreet’s Scott Gamm reports from New York.
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