United Rentals (NYSE:URI) Reaches New 1-Year High on Better-Than-Expected Earnings

United Rentals, Inc. (NYSE:URI)’s stock price reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $767.54 and last traded at $767.28, with a volume of 585384 shares traded. The stock had previously closed at $715.82.

The construction company reported $10.70 earnings per share for the quarter, topping the consensus estimate of $10.48 by $0.22. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the business earned $9.88 EPS. United Rentals’s revenue was up 6.2% on a year-over-year basis.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.87%. United Rentals’s payout ratio is currently 17.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on URI shares. Truist Financial dropped their price objective on United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Stifel Nicolaus increased their price objective on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a report on Friday, April 26th. The Goldman Sachs Group upped their target price on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Raymond James began coverage on United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, United Rentals currently has a consensus rating of “Hold” and a consensus price target of $637.67.

Insider Activity at United Rentals

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

Institutional Investors Weigh In On United Rentals

Hedge funds have recently made changes to their positions in the business. First Financial Corp IN acquired a new stake in shares of United Rentals during the first quarter worth $25,000. Crewe Advisors LLC acquired a new stake in shares of United Rentals during the first quarter worth $27,000. RFP Financial Group LLC boosted its holdings in shares of United Rentals by 115.8% during the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after purchasing an additional 22 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of United Rentals during the first quarter worth $28,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Stock Up 5.2 %

The firm has a market cap of $50.14 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.44 and a beta of 1.71. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The firm has a fifty day moving average price of $662.04 and a 200-day moving average price of $659.91.

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.