United Rentals, Inc. (NYSE:URI) Shares Purchased by SlateStone Wealth LLC

SlateStone Wealth LLC raised its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,087 shares of the construction company's stock after purchasing an additional 338 shares during the quarter. SlateStone Wealth LLC's holdings in United Rentals were worth $3,814,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in United Rentals during the 1st quarter valued at about $26,000. TruNorth Capital Management LLC grew its stake in United Rentals by 1,266.7% during the 1st quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company's stock valued at $26,000 after purchasing an additional 38 shares during the last quarter. Meeder Asset Management Inc. grew its stake in United Rentals by 241.7% during the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after purchasing an additional 29 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in United Rentals by 69.0% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 49 shares of the construction company's stock valued at $31,000 after purchasing an additional 20 shares during the last quarter. Finally, Grove Bank & Trust purchased a new stake in United Rentals during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 96.26% of the company's stock.

Insider Activity at United Rentals

In related news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction that occurred 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 owned 1,921 shares of the company's stock, valued at approximately $1,355,957.06. This trade represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by insiders.

United Rentals Price Performance

Shares of United Rentals stock traded up $2.57 during mid-day trading on Thursday, reaching $882.99. 450,849 shares of the stock traded hands, compared to its average volume of 666,298. The business has a 50-day moving average of $758.38 and a 200 day moving average of $698.40. United Rentals, Inc. has a fifty-two week low of $525.91 and a fifty-two week high of $903.60. The stock has a market capitalization of $56.81 billion, a PE ratio of 22.83, a PEG ratio of 2.04 and a beta of 1.69. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34.

United Rentals (NYSE:URI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The construction company reported $10.47 EPS for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the company earned $10.70 EPS. United Rentals's revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals's dividend payout ratio is presently 18.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on URI. UBS Group upped their target price on United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Bank of America upped their target price on United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Evercore ISI lowered their target price on United Rentals from $974.00 to $921.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. KeyCorp upped their target price on United Rentals from $865.00 to $960.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Truist Financial upped their target price on United Rentals from $786.00 to $952.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and a consensus target price of $830.71.

United Rentals Company 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.