United Rentals, Inc. (NYSE:URI) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. grew its holdings in shares of United Rentals, Inc. (NYSE:URI) by 35.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,114 shares of the construction company’s stock after buying an additional 1,068 shares during the period. Penobscot Investment Management Company Inc.’s holdings in United Rentals were worth $2,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in URI. Rialto Wealth Management LLC acquired a new position in shares of United Rentals in the 4th quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in shares of United Rentals in the fourth quarter valued at about $26,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of United Rentals during the fourth quarter worth about $27,000. Hanson & Doremus Investment Management purchased a new position in shares of United Rentals during the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC acquired a new position in United Rentals in the 4th quarter valued at about $34,000. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

NYSE URI opened at $653.71 on Wednesday. The business has a 50 day moving average price of $694.07 and a 200 day moving average price of $756.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. The company has a market capitalization of $42.69 billion, a P/E ratio of 16.87, a PEG ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a 1-year low of $585.27 and a 1-year high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. Sell-side analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.79 dividend. The ex-dividend date was Wednesday, February 12th. This is a positive change from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 1.10%. United Rentals’s dividend payout ratio is currently 18.48%.

Analysts Set New Price Targets

URI has been the topic of a number of recent research reports. Citigroup dropped their target price on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley cut their price objective on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Bank of America lowered their target price on shares of United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price objective on United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average target price of $804.15.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This represents a 13.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

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.