United Rentals Stock Up as Jana Partners Takes 6% Stake

Shares of United Rentals were higher following reports that activist investor Jana Partners LLC has taken a 6% stake in the equipment rental services company.

The Street

Shares of United Rentals were higher following reports that activist investor Jana Partners LLC has taken a 6% stake in the equipment rental services company.

"URI is the leader in equipment rental," said Nik Mittal, a partner at Jana speaking at the 2015 Carter Burden Investment Conference in New York on Thursday, Reuters reports.

United Rentals stock has fallen recently as a result of the decline in oil prices. However, Mittal said he feels that investors were overreacting.

For more about Jana Partners' stake in United Rentals...

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