Eastern Bank Acquires 101 Shares of United Rentals, Inc. (NYSE:URI)

Eastern Bank increased its stake in shares of United Rentals, Inc. (NYSE:URI) by 146.4% during the fourth quarter, HoldingsChannel reports. The fund owned 170 shares of the construction company’s stock after acquiring an additional 101 shares during the quarter. Eastern Bank’s holdings in United Rentals were worth $120,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC bought a new position in shares of United Rentals during the 4th quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in United Rentals during the third quarter valued at about $31,000. Carmichael Hill & Associates Inc. raised its holdings in United Rentals by 80.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. HM Payson & Co. bought a new stake in shares of United Rentals in the 3rd quarter worth approximately $41,000. Finally, Trust Co. of Vermont grew its holdings in shares of United Rentals by 6,000.0% during the 3rd quarter. Trust Co. of Vermont now owns 61 shares of the construction company’s stock worth $49,000 after purchasing an additional 60 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. This trade represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

United Rentals Trading Up 5.9 %

Shares of URI opened at $729.60 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The company has a market cap of $47.88 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.83 and a beta of 1.69. The stock has a fifty day moving average price of $787.08 and a two-hundred day moving average price of $759.44. United Rentals, Inc. has a 52-week low of $545.16 and a 52-week high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm earned $11.73 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.03%.

Analyst Ratings Changes

A number of research analysts recently commented on URI shares. Bank of America upped their target price on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price on the stock in a research report on Tuesday. Citigroup dropped their price target on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Truist Financial lifted their price objective on United Rentals from $955.00 to $965.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $805.25.

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.