United Rentals, Inc. $URI Shares Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth increased its United Rentals stake by 8.9% in the second quarter, bringing its holdings to 16,369 shares valued at $18.5 million. Institutional investors collectively own 96.26% of URI shares.
• Analyst sentiment remains favorable, with United Rentals receiving a “Moderate Buy” consensus rating and an average price target of $1,230.88. Recent targets range from $1,275 to $1,350.
• United Rentals beat quarterly expectations, reporting $12.76 in EPS and $4.41 billion in revenue, with revenue up 11.8% year over year. The company also pays a quarterly dividend of $1.97 per share, or $7.88 annually.

Corient Private Wealth LP boosted its position in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 8.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,369 shares of the construction company's stock after acquiring an additional 1,334 shares during the quarter. Corient Private Wealth LP's holdings in United Rentals were worth $18,543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brown Financial Advisors boosted its stake in shares of United Rentals by 4.3% in the second quarter. Brown Financial Advisors now owns 1,909 shares of the construction company's stock valued at $2,162,000 after purchasing an additional 78 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in United Rentals during the 2nd quarter worth approximately $22,567,000. California State Teachers Retirement System boosted its position in United Rentals by 110,181.2% in the 2nd quarter. California State Teachers Retirement System now owns 110,282,310 shares of the construction company's stock valued at $124,937,726,000 after buying an additional 110,182,309 shares during the period. Tanager Wealth Management LLP purchased a new position in United Rentals in the 2nd quarter valued at approximately $253,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of United Rentals in the second quarter worth $360,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at United Rentals

In related news, EVP William Grace sold 1,500 shares of the stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

URI has been the topic of a number of recent research reports. Raymond James Financial reaffirmed an "outperform" rating and set a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. Zacks Research raised United Rentals from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Robert W. Baird set a $1,300.00 price target on United Rentals in a report on Friday, July 24th. Weiss Ratings raised United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. Finally, KeyCorp reiterated an "overweight" rating and issued a $1,350.00 price objective on shares of United Rentals in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, United Rentals presently has an average rating of "Moderate Buy" and an average target price of $1,230.88.

United Rentals Stock Performance

Shares of URI stock opened at $994.75 on Tuesday. The stock's 50-day moving average is $1,074.61 and its two-hundred day moving average is $967.34. The firm has a market cap of $61.92 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.45 and a beta of 1.79. 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.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. The business 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%.The business's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $10.47 EPS. Analysts predict that United Rentals, Inc. will post 48.7 earnings per share for the current year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders 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 dividend yield of 0.8%. United Rentals's dividend payout ratio (DPR) is 18.92%.

United Rentals Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.