Cornerstone Advisors LLC Buys Shares of 6,262 United Rentals, Inc. $URI

Cornerstone Advisors LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,262 shares of the construction company’s stock, valued at approximately $7,094,000.

A number of other large investors have also recently made changes to their positions in URI. SFE Investment Counsel purchased a new stake in United Rentals in the 2nd quarter worth approximately $12,765,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of United Rentals by 18.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company’s stock valued at $9,514,000 after purchasing an additional 1,846 shares in the last quarter. Eventide Asset Management LLC increased its holdings in shares of United Rentals by 19.6% in the fourth quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company’s stock worth $77,666,000 after purchasing an additional 15,696 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of United Rentals by 52.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock worth $2,623,000 after purchasing an additional 1,109 shares during the period. Finally, Bridges Investment Management Inc. raised its position in shares of United Rentals by 2.0% in the fourth quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company’s stock worth $56,315,000 after buying an additional 1,354 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

Insider Buying and Selling at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

United Rentals Stock Performance

NYSE URI opened at $1,166.11 on Tuesday. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18. The company has a fifty day moving average of $1,096.63 and a 200-day moving average of $942.44. The company has a market capitalization of $72.58 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.49 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.

United Rentals (NYSE:URI) last released its 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 for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the firm earned $10.47 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts predict that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley set a $1,335.00 price objective on United Rentals and gave the company an “overweight” rating in a research note on Friday, July 24th. Argus restated a “buy” rating and issued a $1,250.00 target price on shares of United Rentals in a research note on Tuesday, August 4th. Weiss Ratings raised United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Bank of America lifted their price target on United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,246.19.

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.