Citigroup Cuts United Rentals (NYSE:URI) Price Target to $650.00

United Rentals (NYSE:URI) had its price objective reduced by Citigroup from $720.00 to $650.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

Several other equities research analysts have also recently issued reports on the stock. UBS Group cut shares of United Rentals from a “buy” rating to a “sell” rating and lowered their target price for the stock from $910.00 to $485.00 in a research note on Monday. Truist Financial dropped their price objective on shares of United Rentals from $956.00 to $732.00 and set a “buy” rating for the company in a research note on Tuesday. Evercore ISI decreased their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price on the stock in a report on Tuesday, January 14th. Finally, Morgan Stanley cut their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $752.14.

United Rentals Trading Down 5.0 %

Shares of United Rentals stock opened at $580.32 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. United Rentals has a twelve month low of $525.91 and a twelve month high of $896.98. The firm has a market capitalization of $37.91 billion, a PE ratio of 14.98, a P/E/G ratio of 1.43 and a beta of 1.72. The firm’s 50-day moving average price is $647.74 and its 200 day moving average price is $742.14.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, sell-side analysts predict that United Rentals will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a dividend yield of 1.23%. United Rentals’s dividend payout ratio is currently 18.48%.

Insider Buying and Selling

In related news, CFO William E. Grace sold 1,100 shares of the stock in a transaction that occurred 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 owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Institutional Trading of United Rentals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC boosted its position in shares of United Rentals by 3.3% during the first quarter. Gilman Hill Asset Management LLC now owns 6,011 shares of the construction company’s stock worth $3,767,000 after buying an additional 190 shares during the period. Leibman Financial Services Inc. lifted its stake in United Rentals by 1.5% during the 1st quarter. Leibman Financial Services Inc. now owns 6,603 shares of the construction company’s stock worth $4,138,000 after acquiring an additional 100 shares in the last quarter. Swisher Financial Concepts Inc. purchased a new position in United Rentals during the 1st quarter valued at about $440,000. Paladin Wealth LLC grew its position in United Rentals by 21.2% in the 1st quarter. Paladin Wealth LLC now owns 1,257 shares of the construction company’s stock valued at $788,000 after acquiring an additional 220 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in United Rentals by 339.8% during the first quarter. Harbor Investment Advisory LLC now owns 1,891 shares of the construction company’s stock worth $1,185,000 after purchasing an additional 1,461 shares during the period. Hedge funds and other 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.