Truist Financial Boosts United Rentals (NYSE:URI) Price Target to $796.00

United Rentals (NYSE:URI) had its target price upped by Truist Financial from $793.00 to $796.00 in a research report released on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

URI has been the topic of several other reports. Robert W. Baird raised their price objective on United Rentals from $322.00 to $559.00 and gave the company an underperform rating in a research note on Friday, January 26th. Evercore ISI boosted their price target 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. Wells Fargo & Company upped their price objective on shares of United Rentals from $630.00 to $710.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Morgan Stanley began coverage on shares of United Rentals in a research report on Monday, January 8th. They set an equal weight rating and a $500.00 target price on the stock. Finally, Barclays upped their target price on United Rentals from $325.00 to $400.00 and gave the company an underweight rating in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, United Rentals currently has a consensus rating of Hold and a consensus target price of $600.79.

United Rentals Trading Down 2.1 %

URI opened at $653.76 on Monday. United Rentals has a fifty-two week low of $325.15 and a fifty-two week high of $732.37. The firm has a market capitalization of $43.53 billion, a PE ratio of 17.71, a P/E/G ratio of 2.33 and a beta of 1.84. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The company’s 50-day moving average is $682.90 and its 200 day moving average is $583.96.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same period in the previous year, the company posted $7.95 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts predict that United Rentals will post 43.39 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s dividend payout ratio (DPR) is 17.66%.

Insider Activity

In other news, CFO William E. Grace sold 775 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the transaction, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were 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 disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Large investors have recently made changes to their positions in the stock. Capital Research Global Investors lifted its holdings in United Rentals by 39.1% during the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after purchasing an additional 1,799,997 shares in the last quarter. Norges Bank purchased a new position in United Rentals during the 4th quarter valued at about $977,443,000. Dimensional Fund Advisors LP lifted its holdings in shares of United Rentals by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock worth $714,578,000 after buying an additional 56,948 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of United Rentals by 58,829.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,043,051 shares of the construction company’s stock valued at $598,106,000 after acquiring an additional 1,041,281 shares during the period. Finally, Invesco Ltd. grew its stake in United Rentals by 19.1% during the third quarter. Invesco Ltd. now owns 933,428 shares of the construction company’s stock valued at $414,974,000 after acquiring an additional 149,838 shares in the last quarter. 96.26% of the stock is owned by 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.