Cornerstone Enterprises LLC Sells 491 Shares of United Rentals, Inc. (NYSE:URI)

Cornerstone Enterprises LLC reduced its position in United Rentals, Inc. (NYSE:URI) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,765 shares of the construction company’s stock after selling 491 shares during the quarter. United Rentals comprises approximately 1.2% of Cornerstone Enterprises LLC’s investment portfolio, making the stock its 17th biggest holding. Cornerstone Enterprises LLC’s holdings in United Rentals were worth $1,948,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Adell Harriman & Carpenter Inc. boosted its stake in United Rentals by 1.8% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 814 shares of the construction company’s stock worth $573,000 after purchasing an additional 14 shares in the last quarter. Valmark Advisers Inc. lifted its stake in shares of United Rentals by 1.8% during the fourth quarter. Valmark Advisers Inc. now owns 788 shares of the construction company’s stock worth $555,000 after buying an additional 14 shares during the period. Erste Asset Management GmbH lifted its stake in shares of United Rentals by 0.5% during the fourth quarter. Erste Asset Management GmbH now owns 2,794 shares of the construction company’s stock worth $2,002,000 after buying an additional 14 shares during the period. Klingman & Associates LLC grew its holdings in shares of United Rentals by 2.3% during the fourth quarter. Klingman & Associates LLC now owns 669 shares of the construction company’s stock valued at $471,000 after buying an additional 15 shares during the last quarter. Finally, Moody National Bank Trust Division increased its position in shares of United Rentals by 4.5% in the 4th quarter. Moody National Bank Trust Division now owns 368 shares of the construction company’s stock valued at $259,000 after acquiring an additional 16 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction 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 approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on URI shares. Morgan Stanley dropped their price target 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. Citigroup dropped their price objective on shares of United Rentals from $720.00 to $650.00 and set a “buy” rating on the stock in a report on Tuesday. Evercore ISI reduced their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Bank of America lowered their target price on United Rentals from $850.00 to $750.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Truist Financial reduced their price target on United Rentals from $956.00 to $732.00 and set a “buy” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $752.14.

United Rentals Stock Performance

NYSE:URI opened at $581.57 on Friday. United Rentals, Inc. has a twelve month low of $525.91 and a twelve month high of $896.98. The company has a market cap of $38.00 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.43 and a beta of 1.72. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. The company’s 50-day moving average price is $644.29 and its 200-day moving average price is $740.61.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. On average, sell-side analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.79 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.16 annualized dividend and a dividend yield of 1.23%. United Rentals’s payout ratio is presently 18.48%.

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.