United Rentals, Inc. $URI Stock Acquired by Eastern Bank

Eastern Bank raised its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 20.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,593 shares of the construction company's stock after purchasing an additional 3,427 shares during the quarter. Eastern Bank's holdings in United Rentals were worth $20,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd purchased a new position in United Rentals in the 2nd quarter valued at about $29,000. MidFirst Bank purchased a new stake in shares of United Rentals during the second quarter valued at approximately $31,000. MV Capital Management Inc. acquired a new stake in shares of United Rentals during the fourth quarter valued at about $28,000. Bell Investment Advisors Inc acquired a new position in shares of United Rentals in the 2nd quarter valued at approximately $40,000. Finally, Hilton Head Capital Partners LLC bought a new position in United Rentals during the 4th quarter valued at $34,000. 96.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other United Rentals news, EVP William Grace sold 1,500 shares of the business's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.47% of the company's stock.

United Rentals Stock Up 0.5%

NYSE:URI traded up $4.87 during trading hours on Monday, hitting $1,085.90. 124,375 shares of the company's stock traded hands, compared to its average volume of 563,059. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The firm has a market cap of $67.59 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.59 and a beta of 1.83. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The stock's fifty day moving average price is $1,062.60 and its two-hundred day moving average price is $988.95.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm's revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.47 earnings per share. On average, research analysts expect that United Rentals, Inc. will post 48.7 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a $1.97 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals's dividend payout ratio is 18.92%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on URI shares. Raymond James Financial reiterated an "outperform" rating and issued a $1,275.00 price target on shares of United Rentals in a report on Wednesday, June 10th. Morgan Stanley set a $1,335.00 price target on United Rentals and gave the company an "overweight" rating in a report on Friday, July 24th. Argus reaffirmed a "buy" rating and set a $1,250.00 target price on shares of United Rentals in a research note on Tuesday, August 4th. Barclays upped their price objective on shares of United Rentals from $715.00 to $950.00 and gave the stock an "underweight" rating in a report on Friday, July 24th. Finally, Wall Street Zen cut shares of United Rentals from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. Fifteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, United Rentals has a consensus rating of "Moderate Buy" and an average target price of $1,239.19.

About United Rentals

United Rentals, Inc is an equipment rental company headquartered in Stamford, Connecticut. The company provides construction, industrial, commercial, and homeowner customers with access to equipment without requiring them to purchase and maintain their own fleets.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trench safety products, power-generation and climate-control equipment, pumps, tools, and general construction equipment. United Rentals also provides specialty services such as mobile storage, fluid solutions, power and HVAC support, and project-based equipment management.

Founded in 1997, United Rentals has grown through organic expansion and acquisitions into a large equipment-rental network serving customers primarily in the United States and Canada, with additional operations in Europe and Australia.

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