United Rentals (NYSE:URI) Hits New 1-Year High – Time to Buy?

Shares of United Rentals, Inc. (NYSE:URI) hit a new 52-week high on Wednesday . The stock traded as high as $862.53 and last traded at $862.53, with a volume of 37176 shares traded. The stock had previously closed at $798.00.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on URI. The Goldman Sachs Group lifted their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Truist Financial upped their price objective on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barclays boosted their target price on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upped 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. Finally, Citigroup raised their price objective on United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, United Rentals currently has an average rating of “Hold” and a consensus target price of $742.50.

United Rentals Trading Up 1.4 %

The firm’s fifty day moving average is $789.13 and its 200-day moving average is $718.04. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77. The firm has a market cap of $57.40 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 2.06 and a beta of 1.68.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $11.73 EPS. Equities analysts anticipate that United Rentals, Inc. will post 43.66 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Wednesday, November 13th. United Rentals’s payout ratio is 17.03%.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at $1,682,702.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its holdings in shares of United Rentals by 82,462.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock worth $1,300,962,000 after acquiring an additional 1,604,715 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in United Rentals by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after buying an additional 27,708 shares during the last quarter. Capital International Investors purchased a new position in United Rentals during the 1st quarter worth $332,349,000. AMF Tjanstepension AB grew its stake in shares of United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after acquiring an additional 199,810 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of United Rentals by 5.7% in the second quarter. Hsbc Holdings PLC now owns 382,536 shares of the construction company’s stock valued at $247,001,000 after purchasing an additional 20,481 shares during the last quarter. Institutional investors and hedge funds 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.