United Rentals, Inc. (NYSE:URI) Plans Quarterly Dividend of $1.63

United Rentals, Inc. (NYSE:URI) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors of record on Wednesday, May 8th will be given a dividend of 1.63 per share by the construction company on Wednesday, May 22nd. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date is Tuesday, May 7th.

United Rentals has a dividend payout ratio of 13.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect United Rentals to earn $47.04 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 13.9%.

United Rentals Stock Performance

URI opened at $666.66 on Friday. United Rentals has a 1-year low of $325.15 and a 1-year high of $732.37. The company has a market cap of $44.39 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.17 and a beta of 1.82. The company’s fifty day moving average price is $683.37 and its two-hundred day moving average price is $586.57. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the previous year, the firm earned $7.95 earnings per share. United Rentals’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts expect that United Rentals will post 43.61 EPS for the current fiscal year.

Insider Buying and Selling

In other United Rentals news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total transaction of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Michael D. Durand sold 559 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,713 shares of company stock valued at $6,747,384. Company insiders own 0.53% of the company’s stock.

United Rentals declared that its board has initiated a stock repurchase plan on Wednesday, January 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on URI. Robert W. Baird raised their target price on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Wells Fargo & Company lifted their price objective on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Truist Financial boosted their target price on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. The Goldman Sachs Group raised their price target on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley started coverage on shares of United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $600.79.

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.