Penobscot Investment Management Company Inc. Acquires 1,092 Shares of United Rentals, Inc. (NYSE:URI)

Penobscot Investment Management Company Inc. grew its holdings in United Rentals, Inc. (NYSE:URI) by 26.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,206 shares of the construction company’s stock after purchasing an additional 1,092 shares during the period. Penobscot Investment Management Company Inc.’s holdings in United Rentals were worth $3,263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of URI. Rialto Wealth Management LLC bought a new stake in shares of United Rentals in the 4th quarter worth $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of United Rentals in the 1st quarter worth $26,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of United Rentals in the 4th quarter worth $27,000. Meeder Asset Management Inc. increased its holdings in shares of United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock worth $29,000 after purchasing an additional 29 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of United Rentals in the 4th quarter worth $36,000. Institutional investors own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

URI has been the subject of several research analyst reports. Sanford C. Bernstein raised United Rentals from an “underperform” rating to a “market perform” rating and cut their price objective for the stock from $705.00 to $666.00 in a report on Tuesday, March 25th. Bank of America cut their price objective on United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a report on Friday, March 21st. Robert W. Baird lifted their price objective on United Rentals from $535.00 to $571.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Citigroup lifted their price objective on United Rentals from $740.00 to $810.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Redburn Atlantic lowered United Rentals from a “buy” rating to a “neutral” rating and set a $760.00 price objective for the company. in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $765.07.

United Rentals Stock Performance

NYSE:URI opened at $737.12 on Thursday. The stock has a 50-day simple moving average of $682.25 and a two-hundred day simple moving average of $684.21. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $896.98. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 0.85. The firm has a market capitalization of $47.91 billion, a PE ratio of 19.09, a P/E/G ratio of 1.81 and a beta of 1.70.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the firm posted $9.15 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 0.97%. The ex-dividend date was Wednesday, May 14th. United Rentals’s dividend payout ratio is presently 18.54%.

Insider Buying and Selling at United Rentals

In other news, EVP Michael D. Durand sold 1,100 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the completion of the transaction, the executive vice president now owns 8,748 shares of the company’s stock, valued at $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Andrew B. Limoges sold 708 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president now directly owns 1,921 shares of the company’s stock, valued at approximately $1,355,957.06. This trade represents a 26.93% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

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.