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

SlateStone Wealth LLC boosted its position in shares of United Rentals, Inc. (NYSE:URI) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,896 shares of the construction company’s stock after purchasing an additional 135 shares during the period. SlateStone Wealth LLC’s holdings in United Rentals were worth $2,807,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in URI. Ballentine Partners LLC boosted its holdings in shares of United Rentals by 2.1% in the 4th quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock valued at $510,000 after buying an additional 18 shares during the period. DGS Capital Management LLC raised its position in shares of United Rentals by 1.3% during the 4th quarter. DGS Capital Management LLC now owns 1,441 shares of the construction company’s stock worth $827,000 after buying an additional 18 shares in the last quarter. Oak Ridge Investments LLC raised its holdings in shares of United Rentals by 0.3% in the 4th quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock worth $3,335,000 after purchasing an additional 20 shares in the last quarter. Caprock Group LLC increased its position in shares of United Rentals by 2.3% in the fourth quarter. Caprock Group LLC now owns 900 shares of the construction company’s stock worth $516,000 after acquiring an additional 20 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 completion of the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.49% of the stock is owned by company insiders.

United Rentals Price Performance

NYSE URI traded up $10.64 during trading on Wednesday, hitting $671.96. 90,644 shares of the company’s stock were exchanged, compared to its average volume of 575,274. The stock’s 50 day moving average price is $679.75 and its two-hundred day moving average price is $575.51. United Rentals, Inc. has a fifty-two week low of $325.15 and a fifty-two week high of $732.37. The company has a current ratio of 0.81, a quick ratio of 0.75 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 P/E/G ratio of 2.18 and a beta of 1.84.

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

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

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Truist Financial initiated coverage on shares of United Rentals in a research report on Thursday, March 14th. They set a “buy” rating and a $793.00 price objective on the stock. BNP Paribas restated an “underperform” rating and issued a $485.00 price objective on shares of United Rentals in a research note on Friday, January 5th. Evercore ISI boosted their price objective on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Robert W. Baird boosted their price objective on shares of United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Finally, Morgan Stanley started coverage on shares of United Rentals in a research note on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective for the company. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock 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.