United Rentals (NYSE:URI) Trading 3.9% Higher

United Rentals, Inc. (NYSE:URI)’s share price traded up 3.9% during mid-day trading on Friday . The stock traded as high as $652.09 and last traded at $647.20. 80,016 shares changed hands during trading, a decline of 86% from the average session volume of 569,066 shares. The stock had previously closed at $623.04.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Raymond James started coverage on shares of United Rentals in a report on Friday. They issued an “outperform” rating and a $750.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup started coverage on shares of United Rentals in a report on Wednesday. They issued a “buy” rating and a $745.00 price objective for the company. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, United Rentals currently has an average rating of “Hold” and an average target price of $638.40.

United Rentals Stock Up 2.5 %

The stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 2.04 and a beta of 1.75. The business’s 50-day moving average is $660.01 and its two-hundred day moving average is $643.09. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. United Rentals’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $7.95 earnings per share. Equities analysts anticipate that United Rentals, Inc. will post 43.87 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a $1.63 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $6.52 annualized dividend and a yield of 1.02%. United Rentals’s payout ratio is 17.66%.

Insider Buying and Selling at United Rentals

In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the transaction, the chief executive officer now owns 103,400 shares in the company, valued at $72,341,742. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On United Rentals

Several large investors have recently made changes to their positions in the stock. Capital Research Global Investors lifted its holdings 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 worth $3,669,806,000 after acquiring an additional 1,799,997 shares during the last quarter. Norges Bank purchased a new stake in United Rentals during the 4th quarter worth approximately $977,443,000. Dimensional Fund Advisors LP increased its stake in United Rentals by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock worth $714,578,000 after buying an additional 56,948 shares during the period. International Assets Investment Management LLC increased its stake in United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after buying an additional 1,041,281 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in United Rentals by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock worth $372,945,000 after buying an additional 11,429 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

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.