Cornerstone Advisors LLC Buys New Shares in United Rentals, Inc. $URI

Cornerstone Advisors LLC bought a new position in United Rentals, Inc. (NYSE:URI) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,262 shares of the construction company’s stock, valued at approximately $7,094,000.

Other hedge funds have also added to or reduced their stakes in the company. Core Wealth Advisors LLC purchased a new stake in United Rentals during the fourth quarter valued at about $28,000. MV Capital Management Inc. purchased a new position in shares of United Rentals in the fourth quarter worth about $28,000. MidFirst Bank bought a new stake in shares of United Rentals in the 2nd quarter valued at about $31,000. Laurel Wealth Advisors LLC bought a new stake in shares of United Rentals in the 4th quarter valued at about $32,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in United Rentals during the 4th quarter valued at about $34,000. 96.26% of the stock is owned by institutional investors.

United Rentals Stock Up 1.1%

NYSE URI opened at $1,166.11 on Tuesday. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. The stock has a market capitalization of $72.58 billion, a PE ratio of 28.00, a PEG ratio of 1.49 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The business’s 50-day moving average is $1,096.63 and its 200 day moving average is $942.44.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the company posted $10.47 EPS. United Rentals’s quarterly revenue was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. United Rentals’s payout ratio is 18.92%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on URI. Evercore restated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. Argus reiterated a “buy” rating and issued a $1,250.00 price objective on shares of United Rentals in a research report on Tuesday, August 4th. Truist Financial increased their price objective on United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Robert W. Baird set a $1,300.00 target price on shares of United Rentals in a report on Friday, July 24th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $1,350.00 target price on shares of United Rentals in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, United Rentals currently has an average rating of “Moderate Buy” and an average target price of $1,246.19.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.