Coastal Bridge Advisors LLC Makes New $3.80 Million Investment in United Rentals, Inc. $URI

Key Points

• Coastal Bridge Advisors initiated a $3.80 million position in United Rentals by purchasing 3,358 shares during the second quarter. Institutional investors collectively own 96.26% of the company.
• United Rentals exceeded quarterly expectations, reporting $12.76 in earnings per share and $4.41 billion in revenue, with revenue rising 11.8% year over year.
• Analysts maintain a favorable outlook, assigning the stock a consensus “Moderate Buy” rating and an average price target of $1,246.19. The company also pays a quarterly dividend of $1.97, yielding about 0.8%.

Coastal Bridge Advisors LLC bought a new position in United Rentals, Inc. (NYSE:URI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,358 shares of the construction company's stock, valued at approximately $3,804,000.

A number of other institutional investors also recently modified their holdings of the business. Core Wealth Advisors LLC purchased a new position in United Rentals in the 4th quarter valued at approximately $28,000. MV Capital Management Inc. purchased a new stake in shares of United Rentals during 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 purchased a new position in shares of United Rentals in the second quarter valued at $31,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of United Rentals during the 4th quarter valued at $32,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Price Performance

United Rentals stock opened at $1,038.12 on Friday. United Rentals, Inc. has a 52 week low of $701.59 and a 52 week high of $1,179.18. The business has a 50-day simple moving average of $1,098.25 and a 200 day simple moving average of $956.65. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. The stock has a market cap of $64.61 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.36 and a beta of 1.80.

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

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 12th. United Rentals's dividend payout ratio (DPR) is currently 18.92%.

Analysts Set New Price Targets

A number of analysts recently issued reports on URI shares. JPMorgan Chase & Co. increased their price objective on United Rentals from $1,100.00 to $1,235.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Evercore reaffirmed an "outperform" rating and set a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. Bank of America upped 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. Weiss Ratings upgraded shares of United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. Finally, Argus reaffirmed a "buy" rating and set a $1,250.00 price objective on shares of United Rentals in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, United Rentals has a consensus rating of "Moderate Buy" and an average price target of $1,246.19.

Insiders Place Their Bets

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

United Rentals Company 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.

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