Corient Private Wealth LP Takes $21.61 Million Position in United Rentals, Inc. $URI

Key Points

• Corient Private Wealth acquired 19,082 United Rentals shares worth approximately $21.61 million during the second quarter. Institutional investors collectively own 96.26% of the company.
• Analyst sentiment remains favorable, with one Strong Buy, 16 Buy, and one Sell rating; the stock has an average “Moderate Buy” rating and a consensus price target of $1,246.19.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, while revenue increased 11.8% year over year. The company also paid a quarterly dividend of $1.97 per share, equal to an annualized yield of about 0.8%.

Corient Private Wealth LP acquired a new stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,082 shares of the construction company's stock, valued at approximately $21,614,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SFE Investment Counsel purchased a new position in United Rentals in the 2nd quarter valued at about $12,765,000. Eventide Asset Management LLC boosted its holdings in United Rentals by 19.6% in the fourth quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company's stock valued at $77,666,000 after purchasing an additional 15,696 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in United Rentals by 52.0% during the 4th 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 last quarter. Bridges Investment Management Inc. increased its holdings in United Rentals by 2.0% during the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company's stock worth $56,315,000 after purchasing an additional 1,354 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of United Rentals by 995.1% in the 4th quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company's stock valued at $11,016,000 after purchasing an additional 12,369 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company's stock.

Wall Street Analyst Weigh In

URI has been the subject of a number of recent analyst reports. Raymond James Financial reissued an "outperform" rating and set a $1,275.00 price target on shares of United Rentals in a research report on Wednesday, June 10th. Zacks Research raised shares of United Rentals from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $1,100.00 to $1,235.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Weiss Ratings raised shares of United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd. Finally, UBS Group boosted their target price on shares of United Rentals from $1,300.00 to $1,350.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,246.19.

United Rentals Price Performance

URI opened at $1,030.64 on Friday. 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 company's 50-day moving average price is $1,097.31 and its 200 day moving average price is $957.16. United Rentals, Inc. has a fifty-two week low of $701.59 and a fifty-two week high of $1,179.18. The firm has a market cap of $64.15 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.80.

United Rentals (NYSE:URI - Get Free Report) last issued 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. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.United Rentals's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.47 earnings per share. As a group, sell-side analysts expect that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Announces Dividend

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

Insider Buying and Selling

In related news, EVP William E. Grace sold 1,500 shares of the company's stock in a transaction 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 directly owned 6,062 shares in the company, valued at $6,869,155.30. This represents a 19.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by 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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