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

SlateStone Wealth LLC raised its stake in shares of United Rentals, Inc. (NYSE:URI) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in United Rentals by 3.7% during 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 in the last quarter. Geode Capital Management LLC boosted its holdings in United Rentals by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,566,802 shares of the construction company’s stock valued at $1,264,326,000 after purchasing an additional 9,256 shares in the last quarter. Franklin Resources Inc. boosted its holdings in United Rentals by 6.1% during the third quarter. Franklin Resources Inc. now owns 996,014 shares of the construction company’s stock valued at $862,110,000 after purchasing an additional 57,002 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in United Rentals by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 787,877 shares of the construction company’s stock valued at $637,968,000 after purchasing an additional 105,287 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in United Rentals by 7.6% during the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after purchasing an additional 52,037 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the transaction, the chief financial officer now owns 6,880 shares of the company’s stock, valued at $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on URI shares. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price on the stock in a report on Tuesday, January 14th. Citigroup reduced their target price on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley reduced their target price on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Argus boosted their target price on United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their target price on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus target price of $829.00.

United Rentals Stock Performance

Shares of United Rentals stock opened at $623.35 on Friday. The firm has a fifty day moving average of $701.71 and a two-hundred day moving average of $760.44. The stock has a market capitalization of $40.71 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 52 week low of $585.27 and a 52 week high of $896.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98.

United Rentals (NYSE:URI) last issued 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 net margin of 16.78% and a return on equity of 34.21%. As a group, equities research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.79 dividend. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.15%. United Rentals’s payout ratio is 18.48%.

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.