JPMorgan Chase & Co. Issues Positive Forecast for United Rentals (NYSE:URI) Stock Price

United Rentals (NYSE:URI) had its target price lifted by JPMorgan Chase & Co. from $780.00 to $920.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

Other equities research analysts also recently issued reports about the stock. Citigroup cut their price target on shares of United Rentals from $720.00 to $650.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Morgan Stanley raised shares of United Rentals from an “equal weight” rating to an “overweight” rating and set a $702.00 price objective for the company in a research note on Wednesday, April 16th. Cfra Research raised shares of United Rentals to a “strong-buy” rating in a research note on Friday, April 25th. Robert W. Baird upped their price objective on shares of United Rentals from $535.00 to $571.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Finally, Evercore ISI reduced their price objective on shares of United Rentals from $974.00 to $921.00 and set an “outperform” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average price target of $757.38.

United Rentals Stock Performance

Shares of URI opened at $696.14 on Wednesday. United Rentals has a 52-week low of $525.91 and a 52-week high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $45.25 billion, a PE ratio of 17.96, a P/E/G ratio of 1.43 and a beta of 1.70. The firm has a 50-day moving average price of $632.92 and a 200 day moving average price of $708.98.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the company posted $9.15 earnings per share. United Rentals’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that United Rentals will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a yield of 1.03%. United Rentals’s dividend payout ratio is currently 18.54%.

Insider Buying and Selling

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $705.86, for a total transaction of $499,748.88. Following the transaction, the vice president now owns 1,921 shares in the company, valued at $1,355,957.06. This trade represents a 26.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO William E. Grace sold 1,100 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at approximately $4,390,128. This trade represents a 13.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,908 shares of company stock worth $1,890,567. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC acquired a new position in United Rentals during the fourth quarter valued at approximately $25,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of United Rentals in the fourth quarter worth $27,000. Meeder Asset Management Inc. grew its stake in shares of United Rentals by 241.7% in the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock worth $29,000 after acquiring an additional 29 shares during the last quarter. TruNorth Capital Management LLC grew its stake in shares of United Rentals by 1,266.7% in the first quarter. TruNorth Capital Management LLC now owns 41 shares of the construction company’s stock worth $26,000 after acquiring an additional 38 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of United Rentals in the first quarter worth $26,000. Institutional investors and hedge funds 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.