Cornerstone Enterprises LLC Trims Position in United Rentals, Inc. (NYSE:URI)

Cornerstone Enterprises LLC lowered its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,765 shares of the construction company's stock after selling 491 shares during the quarter. United Rentals makes up approximately 1.2% of Cornerstone Enterprises LLC's holdings, making the stock its 17th biggest holding. Cornerstone Enterprises LLC's holdings in United Rentals were worth $1,948,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of URI. Integrated Wealth Concepts LLC grew its position in shares of United Rentals by 7.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 355 shares of the construction company's stock worth $288,000 after buying an additional 25 shares during the period. M&T Bank Corp boosted its position in shares of United Rentals by 4.6% during the third quarter. M&T Bank Corp now owns 5,511 shares of the construction company's stock worth $4,463,000 after purchasing an additional 244 shares in the last quarter. Toronto Dominion Bank raised its position in shares of United Rentals by 14.9% during the third quarter. Toronto Dominion Bank now owns 22,324 shares of the construction company's stock worth $18,076,000 after purchasing an additional 2,890 shares during the period. TD Private Client Wealth LLC lifted its stake in United Rentals by 29.1% in the third quarter. TD Private Client Wealth LLC now owns 1,733 shares of the construction company's stock valued at $1,403,000 after buying an additional 391 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its position in United Rentals by 21.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 419 shares of the construction company's stock valued at $340,000 after buying an additional 74 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial reduced their price objective on shares of United Rentals from $956.00 to $732.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird upgraded United Rentals from an "underperform" rating to a "neutral" rating and set a $658.00 price objective for the company in a report on Tuesday, January 14th. Bank of America cut their price objective on shares of United Rentals from $850.00 to $750.00 and set a "buy" rating for the company in a report on Friday, March 21st. Morgan Stanley lowered their price objective on United Rentals from $775.00 to $765.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of United Rentals from $1,000.00 to $750.00 and set an "overweight" rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $734.29.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the completion of the sale, the chief financial officer now directly owns 6,880 shares of the company's stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.53% of the company's stock.

United Rentals Stock Up 0.1 %

NYSE:URI traded up $0.82 on Tuesday, hitting $597.65. The stock had a trading volume of 530,774 shares, compared to its average volume of 590,164. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98. The business's fifty day moving average is $638.42 and its 200 day moving average is $737.67. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The company has a market cap of $39.05 billion, a PE ratio of 15.42, a P/E/G ratio of 1.43 and a beta of 1.72.

United Rentals (NYSE:URI - Get Free Report) last posted its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts' consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, equities research analysts expect that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Wednesday, February 12th. This is an increase from United Rentals's previous quarterly dividend of $1.63. United Rentals's dividend payout ratio (DPR) is 18.48%.

About United Rentals

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.