Essex Savings Bank Acquires 16 Shares of United Rentals, Inc. (NYSE:URI)

Essex Savings Bank lifted its holdings in United Rentals, Inc. (NYSE:URI) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 331 shares of the construction company’s stock after buying an additional 16 shares during the period. Essex Savings Bank’s holdings in United Rentals were worth $233,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. ORG Wealth Partners LLC purchased a new position in United Rentals in the fourth quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of United Rentals in the 3rd quarter valued at approximately $31,000. Carmichael Hill & Associates Inc. boosted its holdings in shares of United Rentals by 80.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after purchasing an additional 20 shares during the period. HM Payson & Co. bought a new position in shares of United Rentals during the 3rd quarter valued at approximately $41,000. Finally, Trust Co. of Vermont raised its holdings in United Rentals by 6,000.0% during the 3rd quarter. Trust Co. of Vermont now owns 61 shares of the construction company’s stock valued at $49,000 after buying an additional 60 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Stock Up 2.2 %

Shares of NYSE:URI opened at $758.03 on Friday. The business’s 50 day moving average is $782.94 and its 200 day moving average is $759.89. The stock has a market cap of $49.74 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.69. United Rentals, Inc. has a 52-week low of $545.16 and a 52-week high of $896.98. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted 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). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. United Rentals’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $11.73 EPS. Sell-side analysts predict that United Rentals, Inc. will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $1.63 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.86%. United Rentals’s dividend payout ratio is currently 17.03%.

Wall Street Analysts Forecast Growth

URI has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Truist Financial dropped their price target on shares of United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a research note on Thursday. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday. Citigroup decreased their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Barclays upped their target price on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price of $805.08.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.49% of the company’s stock.

United Rentals 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.