United Rentals, Inc. (NYSE:URI) COO Sells $377,079.04 in Stock

United Rentals, Inc. (NYSE:URI) COO Michael D. Durand sold 559 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this link.

United Rentals Price Performance

Shares of United Rentals stock opened at $666.66 on Monday. The stock has a 50 day moving average of $683.37 and a 200 day moving average of $587.50. United Rentals, Inc. has a 12 month low of $325.15 and a 12 month high of $732.37. The firm has a market cap of $44.39 billion, a PE ratio of 18.06, a PEG ratio of 2.17 and a beta of 1.82. 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 quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the company earned $7.95 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that United Rentals, Inc. will post 43.61 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

United Rentals announced that its board has initiated a stock repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On United Rentals

Several institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its stake in shares of United Rentals by 73.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,121 shares of the construction company’s stock valued at $2,251,000 after purchasing an additional 1,321 shares during the last quarter. Team Hewins LLC raised its holdings in shares of United Rentals by 3.4% in the first quarter. Team Hewins LLC now owns 863 shares of the construction company’s stock worth $622,000 after buying an additional 28 shares during the period. Signaturefd LLC raised its holdings in shares of United Rentals by 7.7% in the first quarter. Signaturefd LLC now owns 1,600 shares of the construction company’s stock worth $1,154,000 after buying an additional 115 shares during the period. Larson Financial Group LLC raised its holdings in shares of United Rentals by 361.5% in the first quarter. Larson Financial Group LLC now owns 300 shares of the construction company’s stock worth $216,000 after buying an additional 235 shares during the period. Finally, Markel Group Inc. raised its holdings in shares of United Rentals by 72.2% in the first quarter. Markel Group Inc. now owns 15,500 shares of the construction company’s stock worth $11,177,000 after buying an additional 6,500 shares during the period. 96.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley assumed coverage on United Rentals in a research report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price target for the company. The Goldman Sachs Group upped their price objective on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. 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 research note on Friday, January 26th. Truist Financial upped their price objective on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Hold” and an average 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.