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.
