Choate Investment Advisors Acquires Shares of 796 United Rentals, Inc. (NYSE:URI)

Choate Investment Advisors bought a new position in shares of United Rentals, Inc. (NYSE:URI) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 796 shares of the construction company’s stock, valued at approximately $561,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rialto Wealth Management LLC bought a new stake in United Rentals during the 4th quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new stake in United Rentals during the fourth quarter worth $26,000. Hanson & Doremus Investment Management bought a new stake in United Rentals during the fourth quarter worth $33,000. Kestra Investment Management LLC bought a new position in United Rentals during the 4th quarter valued at $34,000. Finally, OFI Invest Asset Management purchased a new position in United Rentals during the 4th quarter worth $36,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the business’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 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 transaction 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.

Analysts Set New Price Targets

Several analysts have recently commented on URI shares. Morgan Stanley lowered their target price on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Citigroup dropped their target price on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Argus upped their target price on United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Truist Financial reiterated a “buy” rating and set a $956.00 price target (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. Finally, Evercore ISI reduced their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. One 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $829.00.

United Rentals Price Performance

United Rentals stock opened at $623.35 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. United Rentals, Inc. has a one year low of $585.27 and a one year high of $896.98. The firm has a market capitalization of $40.71 billion, a P/E ratio of 16.09, a PEG ratio of 1.43 and a beta of 1.76. The business has a fifty day moving average price of $701.71 and a 200-day moving average price of $760.67.

United Rentals (NYSE:URI) last posted its 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%. As a group, equities research analysts forecast that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The firm also recently disclosed 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. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.15%. United Rentals’s payout ratio is presently 18.48%.

United Rentals Company 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.