United Rentals (NYSE:URI) Price Target Cut to $750.00 by Analysts at Bank of America

United Rentals (NYSE:URI) had its price target lowered by Bank of America from $850.00 to $750.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other equities analysts have also issued reports on URI. Evercore ISI cut their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley dropped their target price on United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Truist Financial reiterated a “buy” rating and issued a $956.00 target price (down from $963.00) on shares of United Rentals in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $815.67.

United Rentals Price Performance

Shares of URI stock opened at $628.63 on Friday. United Rentals has a twelve month low of $585.27 and a twelve month high of $896.98. 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 stock has a fifty day simple moving average of $696.39 and a two-hundred day simple moving average of $757.16. The stock has a market capitalization of $41.05 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last released its quarterly earnings data 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 return on equity of 34.21% and a net margin of 16.78%. On average, analysts predict that United Rentals will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s payout ratio is currently 18.48%.

Insiders Place Their Bets

In other news, CFO William E. Grace sold 1,100 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On United Rentals

A number of large investors have recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its holdings in shares of United Rentals by 6.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock valued at $10,464,000 after acquiring an additional 877 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in United Rentals by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 445,214 shares of the construction company’s stock valued at $313,627,000 after purchasing an additional 6,787 shares during the period. Fiduciary Alliance LLC boosted its holdings in United Rentals by 196.5% in the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock valued at $1,000,000 after purchasing an additional 941 shares during the last quarter. Nordea Investment Management AB grew its position in United Rentals by 7.6% during the 4th quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock worth $517,018,000 after purchasing an additional 52,037 shares during the period. Finally, XTX Topco Ltd raised its stake in shares of United Rentals by 428.8% during the 3rd quarter. XTX Topco Ltd now owns 1,692 shares of the construction company’s stock valued at $1,370,000 after buying an additional 1,372 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

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.