SlateStone Wealth LLC Has $3.38 Million Stock Holdings in United Rentals, Inc. (NYSE:URI)

SlateStone Wealth LLC raised its position in United Rentals, Inc. (NYSE:URI) by 4.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,218 shares of the construction company’s stock after purchasing an additional 204 shares during the period. SlateStone Wealth LLC’s holdings in United Rentals were worth $3,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Financial Corp IN acquired a new stake in shares of United Rentals during the 1st quarter worth $25,000. Crewe Advisors LLC bought a new stake in shares of United Rentals during the 1st quarter worth $27,000. Rise Advisors LLC bought a new stake in shares of United Rentals during the 1st quarter worth $28,000. RFP Financial Group LLC lifted its position in shares of United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after buying an additional 22 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in shares of United Rentals during the 1st quarter worth $31,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

URI has been the subject of several research reports. Citigroup initiated coverage on United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 target price for the company. Raymond James initiated coverage on United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. Evercore ISI increased their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. assumed coverage on United Rentals in a research report on Friday, June 7th. They set an “overweight” rating and a $780.00 price objective for the company. Finally, Oppenheimer restated a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, United Rentals has an average rating of “Hold” and a consensus target price of $675.15.

United Rentals Stock Down 0.2 %

Shares of NYSE:URI traded down $1.54 during mid-day trading on Monday, hitting $743.49. 285,822 shares of the company traded hands, compared to its average volume of 568,629. The stock has a market cap of $49.51 billion, a P/E ratio of 20.09, a P/E/G ratio of 1.66 and a beta of 1.71. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. United Rentals, Inc. has a 12-month low of $387.01 and a 12-month high of $789.80. The stock has a 50-day moving average price of $687.20 and a two-hundred day moving average price of $678.17.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.48 by $0.22. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. United Rentals’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.88 earnings per share. On average, equities research analysts forecast that United Rentals, Inc. will post 44.4 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a dividend of $1.63 per share. The ex-dividend date is Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.88%. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Insider Buying and Selling

In related news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now directly owns 4,090 shares in the company, valued at $2,822,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.