United Rentals (NYSE:URI) Price Target Raised to $873.00

United Rentals (NYSE:URI) had its target price increased by Truist Financial from $785.00 to $873.00 in a report published on Friday, Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other analysts have also commented on URI. JPMorgan Chase & Co. initiated coverage on United Rentals in a research note on Friday, June 7th. They set an overweight rating and a $780.00 price objective on the stock. The Goldman Sachs Group raised their price objective on United Rentals from $718.00 to $790.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Stifel Nicolaus upped their price target on shares of United Rentals from $720.00 to $750.00 and gave the company a buy rating in a report on Friday, April 26th. Citigroup initiated coverage on shares of United Rentals in a research report on Wednesday, June 26th. They issued a buy rating and a $745.00 target price for the company. Finally, Oppenheimer reaffirmed a market perform rating on shares of United Rentals in a report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $670.92.

United Rentals Stock Performance

NYSE:URI opened at $744.81 on Friday. United Rentals has a 1-year low of $387.01 and a 1-year high of $789.80. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market capitalization of $49.60 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 2.23 and a beta of 1.71. The company’s 50-day moving average is $665.71 and its two-hundred day moving average is $664.92.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 24th. 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 net margin of 17.35% and a return on equity of 35.87%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the firm earned $9.88 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts forecast that United Rentals will post 44.04 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.88%. United Rentals’s payout ratio is 17.66%.

Insider Transactions at United Rentals

In other United Rentals news, COO Michael D. Durand sold 559 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $5,431,557.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Financial Corp IN bought a new position in United Rentals in the first quarter valued at about $25,000. Crewe Advisors LLC bought a new position in United Rentals in the 1st quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in United Rentals during the 1st quarter worth approximately $28,000. RFP Financial Group LLC increased its position in United Rentals by 115.8% during the 2nd quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after purchasing an additional 22 shares during the period. Finally, Riverview Trust Co acquired a new stake in shares of United Rentals during the 1st quarter worth approximately $31,000. Institutional investors own 96.26% of the company’s stock.

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.