Corient Private Wealth LP Purchases Shares of 19,082 United Rentals, Inc. $URI

Corient Private Wealth LP purchased a new stake in shares of United Rentals, Inc. (NYSE:URI) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 19,082 shares of the construction company’s stock, valued at approximately $21,614,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Core Wealth Advisors LLC bought a new stake in United Rentals during the 4th quarter valued at $28,000. MV Capital Management Inc. bought a new position in shares of United Rentals in the fourth quarter worth $28,000. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of United Rentals in the second quarter worth $29,000. MidFirst Bank acquired a new position in shares of United Rentals during the second quarter valued at $31,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of United Rentals during the fourth quarter valued at $32,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Trading Down 0.7%

Shares of NYSE:URI opened at $1,030.64 on Friday. The stock has a market capitalization of $64.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.34 and a beta of 1.80. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The company has a 50 day moving average price of $1,097.31 and a 200 day moving average price of $957.16.

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

United Rentals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals’s dividend payout ratio is currently 18.92%.

Insider Activity at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value 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 trade represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

URI has been the subject of several research analyst reports. Evercore reaffirmed an “outperform” rating and issued a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Robert W. Baird set a $1,300.00 target price on shares of United Rentals in a research note on Friday, July 24th. Barclays boosted their price target on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research report on Friday, July 24th. Zacks Research upgraded shares of United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, Bank of America raised their price objective on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. One investment 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,246.19.

About United Rentals

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.