Cornerstone Investment Partners LLC lifted its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 28.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,163 shares of the construction company's stock after buying an additional 17,505 shares during the quarter. United Rentals makes up 2.4% of Cornerstone Investment Partners LLC's investment portfolio, making the stock its 25th largest position. Cornerstone Investment Partners LLC owned about 0.12% of United Rentals worth $48,985,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Erste Asset Management GmbH boosted its position in shares of United Rentals by 0.5% in the fourth quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company's stock worth $2,002,000 after acquiring an additional 14 shares during the last quarter. Forum Financial Management LP increased its stake in shares of United Rentals by 1.9% in the fourth quarter. Forum Financial Management LP now owns 749 shares of the construction company's stock worth $528,000 after buying an additional 14 shares during the last quarter. Centaurus Financial Inc. increased its stake in shares of United Rentals by 1.7% in the fourth quarter. Centaurus Financial Inc. now owns 999 shares of the construction company's stock worth $704,000 after buying an additional 17 shares during the last quarter. Leavell Investment Management Inc. increased its stake in shares of United Rentals by 3.6% in the first quarter. Leavell Investment Management Inc. now owns 515 shares of the construction company's stock worth $323,000 after buying an additional 18 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its stake in shares of United Rentals by 4.0% in the first quarter. HBK Sorce Advisory LLC now owns 490 shares of the construction company's stock worth $307,000 after buying an additional 19 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total value of $688,908.00. Following the transaction, the executive vice president owned 8,748 shares in the company, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Andrew B. Limoges sold 708 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $705.86, for a total value of $499,748.88. Following the completion of the transaction, the vice president owned 1,921 shares in the company, valued at $1,355,957.06. This represents a 26.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on URI shares. Redburn Atlantic lowered shares of United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price target for the company. in a research note on Friday, June 13th. The Goldman Sachs Group boosted their price target on shares of United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Evercore ISI reduced their price objective on shares of United Rentals from $974.00 to $921.00 and set an "outperform" rating for the company in a report on Monday, May 19th. JPMorgan Chase & Co. lifted their target price on United Rentals from $920.00 to $950.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Morgan Stanley upgraded United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 target price on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, United Rentals has an average rating of "Moderate Buy" and a consensus price target of $768.54.
Check Out Our Latest Analysis on URI
United Rentals Stock Down 0.7%
Shares of URI traded down $5.47 during trading hours on Friday, reaching $814.27. The company's stock had a trading volume of 603,953 shares, compared to its average volume of 587,587. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.00 and a beta of 1.69. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $896.98. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 1.31. The company has a 50 day moving average of $722.31 and a two-hundred day moving average of $686.12.
United Rentals (NYSE:URI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing analysts' consensus estimates of $8.92 by ($0.06). The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. United Rentals had a net margin of 16.38% and a return on equity of 33.11%. United Rentals's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.15 EPS. As a group, research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.
United Rentals Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a $1.79 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a yield of 0.88%. United Rentals's dividend payout ratio is currently 18.54%.
About United Rentals
(
Free Report)
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.
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