United Rentals (NYSE:URI) Sets New 52-Week High – Still a Buy?

United Rentals, Inc. (NYSE:URI) reached a new 52-week high during trading on Monday . The company traded as high as $1,093.66 and last traded at $1,090.3550, with a volume of 90307 shares trading hands. The stock had previously closed at $1,067.77.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on URI. KeyCorp lifted their price objective on shares of United Rentals from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. UBS Group upped their target price on United Rentals from $1,025.00 to $1,145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Evercore reaffirmed an “outperform” rating and set a $1,101.00 target price on shares of United Rentals in a research report on Monday, May 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,030.00 target price on shares of United Rentals in a research report on Friday, April 24th. Finally, Citigroup boosted their target price on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.63.

United Rentals Stock Performance

The stock has a market cap of $68.53 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 1.72 and a beta of 1.81. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The stock’s 50-day simple moving average is $899.90 and its two-hundred day simple moving average is $856.84.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $8.86 EPS. Analysts forecast that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. United Rentals’s dividend payout ratio is currently 20.10%.

Insider Activity at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares of the company’s stock, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president directly owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Woodline Partners LP raised its position in United Rentals by 40.0% in the first quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock worth $3,458,000 after purchasing an additional 1,577 shares in the last quarter. Sei Investments Co. raised its position in United Rentals by 24.7% in the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock worth $20,444,000 after purchasing an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina raised its position in United Rentals by 43.6% in the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock worth $42,233,000 after purchasing an additional 17,030 shares in the last quarter. HUB Investment Partners LLC raised its position in United Rentals by 11.3% in the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after purchasing an additional 223 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its position in United Rentals by 338.7% in the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 1,277 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.