United Rentals, Inc. (URI) to Issue Quarterly Dividend of $1.63 on May 22nd

United Rentals, Inc. (NYSE:URI) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors of record on Wednesday, May 8th will be given a dividend of 1.63 per share by the construction company on Wednesday, May 22nd. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date is Tuesday, May 7th.

United Rentals has a dividend payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect United Rentals to earn $46.37 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 14.1%.

United Rentals Trading Up 5.5 %

NYSE URI opened at $690.92 on Friday. The stock has a market capitalization of $46.41 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.27 and a beta of 1.84. United Rentals has a 52-week low of $325.15 and a 52-week high of $732.37. The firm has a 50-day moving average price of $680.37 and a 200 day moving average price of $576.87. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 1.24.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.85%. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period last year, the company posted $7.95 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts expect that United Rentals will post 43.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on URI shares. BNP Paribas reiterated an “underperform” rating and issued a $485.00 price target on shares of United Rentals in a research report on Friday, January 5th. Barclays increased their price target 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. The Goldman Sachs Group increased their price target 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. Robert W. Baird increased their price target on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Finally, Evercore ISI increased their price target on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $589.21.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the transaction, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by company insiders.

United Rentals declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.