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

SlateStone Wealth LLC grew its position in United Rentals, Inc. (NYSE:URI) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,896 shares of the construction company’s stock after acquiring an additional 135 shares during the quarter. SlateStone Wealth LLC’s holdings in United Rentals were worth $2,807,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its holdings in United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after purchasing an additional 1,041,281 shares during the last quarter. Deutsche Bank AG grew its position in shares of United Rentals by 88.1% in the 3rd quarter. Deutsche Bank AG now owns 362,151 shares of the construction company’s stock worth $161,001,000 after acquiring an additional 169,586 shares in the last quarter. Invesco Ltd. grew its position in shares of United Rentals by 19.1% in the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock worth $414,974,000 after acquiring an additional 149,838 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of United Rentals in the 3rd quarter worth approximately $40,634,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after acquiring an additional 72,066 shares in the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Performance

United Rentals stock traded up $10.64 during trading hours on Wednesday, hitting $671.96. The stock had a trading volume of 90,644 shares, compared to its average volume of 575,274. The company has a 50-day moving average of $679.75 and a two-hundred day moving average of $575.51. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24. The company has a market cap of $45.14 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84. United Rentals, Inc. has a fifty-two week low of $325.15 and a fifty-two week high of $732.37.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. United Rentals’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.74 EPS. On average, equities research analysts anticipate that United Rentals, Inc. will post 43.13 EPS for the current fiscal year.

United Rentals announced that its Board of Directors has approved a share repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Robert W. Baird boosted their price objective on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Truist Financial assumed coverage on United Rentals in a research report on Thursday, March 14th. They set a “buy” rating and a $793.00 price objective for the company. BNP Paribas reiterated an “underperform” rating and set a $485.00 price target on shares of United Rentals in a research report on Friday, January 5th. Finally, Evercore ISI boosted their price target on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals presently has an average rating of “Hold” and an average price target of $589.21.

About United Rentals

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.