United Rentals, Inc. (NYSE:URI) Announces Quarterly Dividend of $1.63

United Rentals, Inc. (NYSE:URI) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Stockholders of record on Wednesday, November 13th will be paid a dividend of 1.63 per share by the construction company on Wednesday, November 27th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Wednesday, November 13th.

United Rentals has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Rentals to earn $47.62 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 13.7%.

United Rentals Trading Down 1.1 %

NYSE:URI opened at $824.99 on Friday. United Rentals has a 52 week low of $387.01 and a 52 week high of $861.74. The firm’s fifty day moving average is $770.73 and its 200-day moving average is $707.41. The firm has a market cap of $54.56 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.96 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company posted $11.73 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that United Rentals will post 44.38 earnings per share for the current year.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the sale, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

URI has been the subject of a number of research analyst reports. Citigroup lifted their target price on United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird increased their target price on shares of United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Bank of America lifted their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Truist Financial increased their price objective on shares of United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $728.86.

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.