Citigroup Increases United Rentals (NYSE:URI) Price Target to $930.00

United Rentals (NYSE:URI) had its price objective boosted by Citigroup from $860.00 to $930.00 in a report issued on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

URI has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of United Rentals from $780.00 to $940.00 and gave the stock an overweight rating in a report on Monday, September 23rd. Truist Financial increased their price objective on United Rentals from $873.00 to $954.00 and gave the company a buy rating in a report on Wednesday. Raymond James assumed coverage on United Rentals in a research note on Friday, June 28th. They set an outperform rating and a $750.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a buy rating in a report on Friday, July 26th. Finally, Evercore ISI lifted their target price on shares of United Rentals from $774.00 to $795.00 and gave the stock an outperform rating in a research note on Monday, August 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $714.92.

United Rentals Trading Up 2.0 %

URI opened at $819.00 on Wednesday. The firm has a market capitalization of $54.17 billion, a PE ratio of 21.62, a P/E/G ratio of 1.86 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. United Rentals has a fifty-two week low of $387.01 and a fifty-two week high of $826.24. The company’s 50-day moving average is $744.21 and its 200 day moving average is $699.31.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted $9.88 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, research analysts predict that United Rentals will post 44.39 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Wednesday, August 14th. United Rentals’s payout ratio is 17.21%.

Insider Activity at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares of the company’s stock, valued at $2,822,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On United Rentals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its stake in shares of United Rentals by 7.9% in the 3rd quarter. Creative Planning now owns 13,046 shares of the construction company’s stock valued at $10,563,000 after purchasing an additional 959 shares in the last quarter. CX Institutional boosted its position in United Rentals by 3.2% during the third quarter. CX Institutional now owns 515 shares of the construction company’s stock valued at $417,000 after buying an additional 16 shares during the period. Fiduciary Alliance LLC bought a new position in shares of United Rentals during the third quarter valued at about $388,000. Adamsbrown Wealth Consultants LLC purchased a new position in shares of United Rentals in the third quarter worth about $234,000. Finally, Procyon Advisors LLC boosted its holdings in United Rentals by 2.9% during the 3rd quarter. Procyon Advisors LLC now owns 741 shares of the construction company’s stock valued at $600,000 after acquiring an additional 21 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

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.