United Rentals, Inc. (NYSE:URI) Receives $584.07 Average Price Target from Brokerages

United Rentals, Inc. (NYSE:URI) has received a consensus rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $589.21.

A number of research analysts have weighed in on the stock. Truist Financial assumed coverage on shares of United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Morgan Stanley assumed coverage on shares of United Rentals in a research report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 target price on the stock. Barclays lifted their target price on shares of United Rentals from $325.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 26th. Finally, The Goldman Sachs Group lifted their target price on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th.

Insider Buying and Selling

In related news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were 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 of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On United Rentals

A number of large investors have recently modified their holdings of URI. Capital Research Global Investors increased its position in shares of United Rentals by 39.1% in the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after purchasing an additional 1,799,997 shares during the last quarter. Norges Bank acquired a new position in shares of United Rentals in the 4th quarter valued at $977,443,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of United Rentals by 104,089.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,341,964 shares of the construction company’s stock valued at $476,961,000 after buying an additional 1,340,676 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of United Rentals by 58,829.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after buying an additional 1,041,281 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of United Rentals by 49.1% in the 1st quarter. Royal Bank of Canada now owns 672,534 shares of the construction company’s stock valued at $238,890,000 after buying an additional 221,613 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Trading Down 0.7 %

Shares of United Rentals stock opened at $628.34 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75. The firm has a fifty day moving average price of $679.93 and a 200 day moving average price of $572.43. United Rentals has a 1 year low of $325.15 and a 1 year high of $732.37. The stock has a market cap of $42.21 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the company earned $9.74 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts predict that United Rentals will post 43.13 earnings per share for the current year.

United Rentals announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 3.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

United Rentals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date was Tuesday, February 13th. United Rentals’s payout ratio is 18.44%.

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.