SlateStone Wealth LLC Has $4.05 Million Holdings in United Rentals, Inc. (NYSE:URI)

SlateStone Wealth LLC increased its stake in United Rentals, Inc. (NYSE:URI) by 5.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,749 shares of the construction company’s stock after purchasing an additional 286 shares during the quarter. SlateStone Wealth LLC’s holdings in United Rentals were worth $4,050,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in URI. Proficio Capital Partners LLC acquired a new position in United Rentals in the 4th quarter worth $171,733,000. Raymond James Financial Inc. acquired a new position in shares of United Rentals during the 4th quarter worth about $164,493,000. JPMorgan Chase & Co. boosted its stake in shares of United Rentals by 15.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock worth $637,968,000 after buying an additional 105,287 shares during the last quarter. FMR LLC boosted its stake in shares of United Rentals by 3.7% during the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock worth $1,956,768,000 after buying an additional 85,325 shares during the last quarter. Finally, National Pension Service boosted its stake in shares of United Rentals by 79.8% during the 4th quarter. National Pension Service now owns 167,813 shares of the construction company’s stock worth $118,214,000 after buying an additional 74,479 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Up 4.9 %

United Rentals stock opened at $623.35 on Friday. The stock has a market cap of $40.71 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.43 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. United Rentals, Inc. has a twelve month low of $585.27 and a twelve month high of $896.98. The company’s 50-day moving average price is $701.71 and its two-hundred day moving average price is $760.44.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. As a group, analysts expect that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. The ex-dividend date was Wednesday, February 12th. This is a boost from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 1.15%. United Rentals’s dividend payout ratio (DPR) is currently 18.48%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on URI shares. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Argus increased their price objective on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI dropped their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Truist Financial reaffirmed a “buy” rating and issued a $956.00 target price (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Finally, Morgan Stanley dropped their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $829.00.

Insider Transactions at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

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.