Michael D. Durand Sells 559 Shares of United Rentals, Inc. (NYSE:URI) Stock

United Rentals, Inc. (NYSE:URI) COO Michael D. Durand sold 559 shares of the business’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 transaction of $377,079.04. Following the transaction, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

United Rentals Stock Up 0.3 %

Shares of NYSE URI traded up $2.09 during mid-day trading on Friday, hitting $666.66. The company had a trading volume of 340,109 shares, compared to its average volume of 588,533. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The firm has a 50-day simple moving average of $683.20 and a two-hundred day simple moving average of $585.00. The company has a market capitalization of $44.39 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.82. United Rentals, Inc. has a one year low of $325.15 and a one year high of $732.37.

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 the consensus estimate 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 return on equity of 36.44% and a net margin of 17.31%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.95 EPS. On average, equities analysts expect that United Rentals, Inc. will post 43.52 EPS for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in United Rentals during the first quarter worth about $1,493,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of United Rentals by 2.9% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 19,812 shares of the construction company’s stock worth $14,286,000 after acquiring an additional 554 shares during the last quarter. Whittier Trust Co. raised its stake in United Rentals by 1.9% in the 1st quarter. Whittier Trust Co. now owns 51,586 shares of the construction company’s stock valued at $37,198,000 after acquiring an additional 959 shares during the period. Financial Counselors Inc. lifted its holdings in United Rentals by 13.5% during the 1st quarter. Financial Counselors Inc. now owns 3,714 shares of the construction company’s stock valued at $2,678,000 after purchasing an additional 442 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in United Rentals by 2.3% during the first quarter. Daiwa Securities Group Inc. now owns 16,344 shares of the construction company’s stock worth $11,786,000 after purchasing an additional 374 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on URI shares. Morgan Stanley initiated coverage on shares of United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price target for the company. The Goldman Sachs Group boosted their price objective on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Evercore ISI raised their target price on shares of United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday. Finally, Truist Financial raised their price objective on shares of United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a report on Monday. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, United Rentals presently has an average rating of “Hold” and a consensus price target of $600.79.

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.