United Rentals (NYSE:URI) Price Target Increased to $873.00 by Analysts at Truist Financial

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

Several other equities analysts have also weighed in on URI. Raymond James started coverage on shares of United Rentals in a research report on Friday, June 28th. They set an outperform rating and a $750.00 price target for the company. Oppenheimer reissued a market perform rating on shares of United Rentals in a report on Monday, April 29th. Citigroup initiated coverage on United Rentals in a research note on Wednesday, June 26th. They set a buy rating and a $745.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of United Rentals from $718.00 to $790.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus boosted their price objective on shares of United Rentals from $720.00 to $750.00 and gave the stock a buy rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of Hold and a consensus price target of $670.92.

United Rentals Stock Down 1.0 %

Shares of NYSE URI opened at $744.81 on Friday. The company has a market capitalization of $49.60 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.23 and a beta of 1.71. The company’s 50 day moving average price is $665.71 and its 200-day moving average price is $664.92. 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 has a 52-week low of $387.01 and a 52-week high of $789.80.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $9.88 earnings per share. Equities analysts forecast that United Rentals will post 44.04 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, August 14th. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

Insider Buying and Selling

In other news, COO Michael D. Durand sold 559 shares of the firm’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 directly owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On United Rentals

Several hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors grew its stake in United Rentals by 39.1% in the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after acquiring an additional 1,799,997 shares during the period. Norges Bank purchased a new position in United Rentals during the 4th quarter valued at about $977,443,000. International Assets Investment Management LLC lifted its holdings in United Rentals by 58,829.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock worth $598,106,000 after buying an additional 1,041,281 shares in the last quarter. Capital International Investors purchased a new stake in United Rentals during the 1st quarter worth about $332,349,000. Finally, AMF Tjanstepension AB lifted its stake in United Rentals by 77.7% in the second 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 during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

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.