Cornerstone Wealth Group LLC Makes New Investment in United Rentals, Inc. (NYSE:URI)

Cornerstone Wealth Group LLC bought a new stake in shares of United Rentals, Inc. (NYSE:URI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 288 shares of the construction company’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of United Rentals during the 1st quarter valued at approximately $27,000. RFP Financial Group LLC raised its holdings in United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after buying an additional 22 shares during the period. HHM Wealth Advisors LLC raised its holdings in United Rentals by 280.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after buying an additional 42 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in United Rentals during the 2nd quarter valued at $45,000. Finally, Trust Co. of Vermont raised its holdings in United Rentals by 6,000.0% during the 3rd quarter. Trust Co. of Vermont now owns 61 shares of the construction company’s stock valued at $49,000 after buying an additional 60 shares during the period. 96.26% of the stock is currently owned by institutional investors.

United Rentals Trading Up 0.2 %

United Rentals stock opened at $813.37 on Friday. 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 company has a market capitalization of $53.37 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68. The stock 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 released its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS 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 firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the firm earned $11.73 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that United Rentals, Inc. will post 43.66 EPS for the current year.

United Rentals Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Bank of America increased their price target on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Robert W. Baird increased their target price on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Evercore ISI increased their target price on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Citigroup increased their target price on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $742.50.

Insider Activity at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals 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 transaction, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

United Rentals 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.