Penobscot Investment Management Company Inc. Grows Holdings in United Rentals, Inc. (NYSE:URI)

Penobscot Investment Management Company Inc. increased its position in United Rentals, Inc. (NYSE:URI - Free Report) by 26.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,206 shares of the construction company's stock after purchasing an additional 1,092 shares during the period. Penobscot Investment Management Company Inc.'s holdings in United Rentals were worth $3,263,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors lifted its stake in United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company's stock valued at $1,564,722,000 after acquiring an additional 323,636 shares during the period. Geode Capital Management LLC lifted its stake in United Rentals by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company's stock valued at $1,115,142,000 after acquiring an additional 20,401 shares during the period. Alliancebernstein L.P. lifted its stake in United Rentals by 16.0% during the 4th quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company's stock valued at $880,778,000 after acquiring an additional 172,340 shares during the period. Franklin Resources Inc. lifted its stake in United Rentals by 9.8% during the 4th quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company's stock valued at $770,199,000 after acquiring an additional 97,336 shares during the period. Finally, Capital International Investors lifted its stake in United Rentals by 41.0% during the 4th quarter. Capital International Investors now owns 1,051,365 shares of the construction company's stock valued at $740,624,000 after acquiring an additional 305,491 shares during the period. Institutional investors own 96.26% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on URI shares. Morgan Stanley upgraded shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 target price on the stock in a research note on Wednesday, April 16th. Citigroup reaffirmed a "buy" rating and set a $810.00 price target (up previously from $740.00) on shares of United Rentals in a research report on Tuesday, June 24th. The Goldman Sachs Group upped their price target on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Evercore ISI reduced their price target on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Finally, Cfra Research raised shares of United Rentals to a "strong-buy" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $766.23.

Insider Buying and Selling

In related news, EVP Michael D. Durand sold 1,100 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the sale, the executive vice president now directly owns 8,748 shares in the company, valued at $5,478,697.44. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the sale, the vice president now owns 1,921 shares of the company's stock, valued at approximately $1,355,957.06. This represents a 26.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.

United Rentals Price Performance

URI traded up $11.96 during trading on Friday, reaching $754.03. 924,469 shares of the company traded hands, compared to its average volume of 586,937. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 0.85. United Rentals, Inc. has a 12-month low of $525.91 and a 12-month high of $896.98. The firm has a fifty day simple moving average of $688.57 and a 200 day simple moving average of $681.77. The company has a market cap of $49.01 billion, a P/E ratio of 19.52, a PEG ratio of 1.84 and a beta of 1.71.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The construction company reported $8.86 EPS for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The firm's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.15 earnings per share. On average, equities analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a $1.79 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a yield of 0.95%. United Rentals's dividend payout ratio is presently 18.54%.

United Rentals Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.