Truist Financial Increases United Rentals (NYSE:URI) Price Target to $796.00

United Rentals (NYSE:URI) had its price target upped by Truist Financial from $793.00 to $796.00 in a report issued on Monday, Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

URI has been the subject of a number of other research reports. Morgan Stanley started coverage on shares of United Rentals in a research note on Monday, January 8th. They set an equal weight rating and a $500.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of United Rentals from $720.00 to $750.00 and gave the company a buy rating in a report on Friday, April 26th. Robert W. Baird upped their price objective on United Rentals from $322.00 to $559.00 and gave the stock an underperform rating in a report on Friday, January 26th. The Goldman Sachs Group lifted their target price on United Rentals from $718.00 to $790.00 and gave the company a buy rating in a report on Tuesday, April 16th. Finally, Barclays upped their price target on United Rentals from $325.00 to $400.00 and gave the stock an underweight rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $600.79.

United Rentals Stock Performance

Shares of URI opened at $653.76 on Monday. United Rentals has a 1 year low of $325.15 and a 1 year high of $732.37. The company’s 50 day simple moving average is $682.90 and its 200 day simple moving average is $583.96. The company has a market capitalization of $43.53 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.33 and a beta of 1.84. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.95 EPS. On average, sell-side analysts predict that United Rentals will post 43.39 EPS for the current year.

United Rentals announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

Insider Transactions at United Rentals

In related news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the sale, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William E. Grace sold 775 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of United Rentals

Several hedge funds have recently bought and sold shares of URI. OFI Invest Asset Management bought a new position in United Rentals in the 3rd quarter worth approximately $25,000. First Financial Corp IN acquired a new stake in United Rentals in the first quarter worth about $25,000. AdvisorNet Financial Inc grew its position in United Rentals by 71.4% in the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. Rise Advisors LLC bought a new position in United Rentals in the 1st quarter valued at about $28,000. Finally, NBC Securities Inc. bought a new stake in shares of United Rentals during the 3rd quarter worth about $29,000. 96.26% of the stock is currently owned by institutional investors.

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.