United Rentals, Inc. (NYSE:URI) Stake Boosted by Bank of New Hampshire

Bank of New Hampshire increased its stake in United Rentals, Inc. (NYSE:URI) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 3,477 shares of the construction company’s stock after acquiring an additional 60 shares during the period. Bank of New Hampshire’s holdings in United Rentals were worth $1,994,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of United Rentals by 58,829.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after buying an additional 1,041,281 shares in the last quarter. Deutsche Bank AG lifted its holdings in United Rentals by 88.1% in the 3rd quarter. Deutsche Bank AG now owns 362,151 shares of the construction company’s stock worth $161,001,000 after purchasing an additional 169,586 shares during the last quarter. Invesco Ltd. lifted its holdings in United Rentals by 19.1% in the 3rd quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock worth $414,974,000 after purchasing an additional 149,838 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in United Rentals in the 3rd quarter worth approximately $40,634,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in United Rentals by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after purchasing an additional 72,066 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Evercore ISI boosted their price objective on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Morgan Stanley started coverage on United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective on the stock. Stifel Nicolaus boosted their price objective on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday. Finally, Truist Financial started coverage on United Rentals in a research report on Thursday, March 14th. They set a “buy” rating and a $793.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $600.57.

United Rentals Stock Performance

Shares of NYSE URI traded down $2.05 during midday trading on Friday, hitting $688.87. 271,928 shares of the company’s stock traded hands, compared to its average volume of 584,048. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37. The stock has a market capitalization of $46.27 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 2.27 and a beta of 1.84. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81. The firm has a fifty day moving average of $680.37 and a 200 day moving average of $576.87.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.85% and a net margin of 17.31%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the company posted $7.95 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, analysts forecast that United Rentals, Inc. will post 43.13 earnings per share for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

United Rentals declared that its board has authorized a share buyback program on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

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.