United Rentals (NYSE:URI) Price Target Raised to $571.00

United Rentals (NYSE:URI) had its target price boosted by Robert W. Baird from $535.00 to $571.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Several other research firms have also weighed in on URI. Truist Financial reduced their price objective on United Rentals from $956.00 to $732.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $705.00 to $666.00 in a research note on Tuesday, March 25th. JPMorgan Chase & Co. dropped their price objective on shares of United Rentals from $1,000.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley upgraded United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price target for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $725.69.

United Rentals Trading Down 2.0 %

NYSE URI opened at $634.70 on Friday. The company has a 50-day moving average of $615.93 and a 200-day moving average of $725.87. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.92. United Rentals has a 12 month low of $525.91 and a 12 month high of $896.98. The company has a market cap of $41.47 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.43 and a beta of 1.72.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. As a group, equities analysts predict that United Rentals will post 44.8 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, May 14th. United Rentals’s dividend payout ratio (DPR) is currently 18.54%.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the transaction, the chief financial officer now directly owns 6,880 shares of the company’s stock, valued at $4,390,128. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Several large investors have recently modified their holdings of URI. Capital World Investors lifted its holdings in United Rentals by 17.1% during the 4th quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock worth $1,564,722,000 after buying an additional 323,636 shares during the last quarter. Geode Capital Management LLC raised its position in shares of United Rentals by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,587,203 shares of the construction company’s stock valued at $1,115,142,000 after acquiring an additional 20,401 shares in the last quarter. Alliancebernstein L.P. lifted its stake in United Rentals by 16.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,250,324 shares of the construction company’s stock worth $880,778,000 after purchasing an additional 172,340 shares during the last quarter. Franklin Resources Inc. lifted its stake in United Rentals by 9.8% during the fourth quarter. Franklin Resources Inc. now owns 1,093,350 shares of the construction company’s stock worth $770,199,000 after purchasing an additional 97,336 shares during the last quarter. Finally, Capital International Investors boosted its holdings in United Rentals by 41.0% in the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock worth $740,624,000 after purchasing an additional 305,491 shares during the period. Institutional investors own 96.26% of the company’s stock.

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.