Eastern Bank Acquires New Position in United Rentals, Inc. (NYSE:URI)

Eastern Bank purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) in the third quarter, HoldingsChannel.com reports. The fund purchased 69 shares of the construction company’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of United Rentals during the 1st quarter valued at approximately $27,000. 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 valued at $27,000 after acquiring an additional 22 shares during the period. HHM Wealth Advisors LLC lifted its position in shares of United Rentals by 280.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after acquiring an additional 42 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of United Rentals during the 1st quarter valued at approximately $43,000. Finally, Trust Co. of Vermont lifted its position 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 valued at $49,000 after acquiring an additional 60 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at $2,822,100. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on URI shares. Citigroup lifted their price target on shares of United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research report on Friday. Raymond James began coverage on United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective for the company. Truist Financial lifted their price objective on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird lifted their price objective on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Finally, Bank of America lifted their price objective on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals presently has a consensus rating of “Hold” and an average target price of $742.50.

United Rentals Stock Down 1.6 %

URI stock opened at $811.70 on Friday. The stock has a market capitalization of $54.05 billion, a P/E ratio of 21.99, a PEG ratio of 1.96 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. United Rentals, Inc. has a one year low of $387.01 and a one year high of $861.74. The company has a 50 day moving average price of $772.68 and a two-hundred day moving average price of $708.16.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the firm earned $11.73 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that United Rentals, Inc. will post 44.38 EPS for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $1.63 per share. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.80%. United Rentals’s dividend payout ratio is presently 17.66%.

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.