Cornerstone Wealth Group LLC Takes Position in United Rentals, Inc. (NYSE:URI)

Cornerstone Wealth Group LLC purchased a new stake in United Rentals, Inc. (NYSE:URI) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 288 shares of the construction company’s stock, valued at approximately $233,000.

Several other large investors have also modified their holdings of URI. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of United Rentals by 11.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after buying an additional 964 shares during the period. Essex Financial Services Inc. raised its holdings in shares of United Rentals by 31.9% in the 2nd quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock valued at $364,000 after buying an additional 136 shares during the period. Forsta AP Fonden raised its holdings in shares of United Rentals by 2.8% in the 1st quarter. Forsta AP Fonden now owns 14,600 shares of the construction company’s stock valued at $10,528,000 after buying an additional 400 shares during the period. Tidal Investments LLC raised its holdings in shares of United Rentals by 241.2% in the 1st quarter. Tidal Investments LLC now owns 4,859 shares of the construction company’s stock valued at $3,504,000 after buying an additional 3,435 shares during the period. Finally, BDF Gestion purchased a new stake in shares of United Rentals in the 2nd quarter valued at $2,998,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird upped their price target on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. The Goldman Sachs Group upped their price target on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Truist Financial upped their price target on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America upped their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Citigroup increased their price objective on United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $742.50.

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

United Rentals Stock Up 0.2 %

Shares of NYSE URI opened at $813.37 on Friday. The stock has a market cap of $53.37 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a 52-week low of $395.44 and a 52-week high of $861.74. The business has a 50-day moving average price of $780.36 and a 200 day moving average price of $711.80.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the business posted $11.73 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a yield of 0.80%. United Rentals’s payout ratio is 17.03%.

United Rentals Company Profile

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.