Penobscot Investment Management Company Inc. Increases Position in United Rentals, Inc. (NYSE:URI)

Penobscot Investment Management Company Inc. boosted its position in United Rentals, Inc. (NYSE:URI) by 35.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,114 shares of the construction company’s stock after acquiring an additional 1,068 shares during the period. Penobscot Investment Management Company Inc.’s holdings in United Rentals were worth $2,898,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC grew its position in shares of United Rentals by 3.7% in the third quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after purchasing an additional 85,325 shares during the period. Geode Capital Management LLC boosted its stake in United Rentals by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock worth $1,264,326,000 after buying an additional 9,256 shares during the last quarter. Franklin Resources Inc. grew its holdings in United Rentals by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after buying an additional 57,002 shares during the period. JPMorgan Chase & Co. increased 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 valued at $637,968,000 after acquiring an additional 105,287 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of United Rentals by 7.6% during the 4th quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock worth $517,018,000 after acquiring an additional 52,037 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 completion of the sale, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

United Rentals Trading Up 1.0 %

URI opened at $653.71 on Wednesday. The firm has a market capitalization of $42.69 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.43 and a beta of 1.76. The firm’s 50 day moving average is $694.07 and its 200-day moving average is $756.62. 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 52-week low of $585.27 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (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%. Analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is 18.48%.

Analyst Upgrades and Downgrades

URI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup dropped their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Bank of America reduced their target price on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $956.00 price objective (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $804.15.

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.