United Rentals (NYSE:URI) Price Target Lowered to $785.00 at Truist Financial

United Rentals (NYSE:URI) had its price target reduced by Truist Financial from $796.00 to $785.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research firms also recently weighed in on URI. Stifel Nicolaus boosted their target price on United Rentals from $720.00 to $750.00 and gave the stock a buy rating in a research report on Friday, April 26th. Citigroup assumed coverage on United Rentals in a research report on Wednesday, June 26th. They set a buy rating and a $745.00 target price for the company. Raymond James assumed coverage on United Rentals in a research report on Friday, June 28th. They set an outperform rating and a $750.00 target price for the company. JPMorgan Chase & Co. initiated coverage on United Rentals in a research report on Friday, June 7th. They set an overweight rating and a $780.00 target price for the company. Finally, The Goldman Sachs Group upped their price objective on United Rentals from $718.00 to $790.00 and gave the company a buy rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, United Rentals currently has an average rating of Hold and a consensus target price of $637.67.

United Rentals Stock Performance

URI opened at $645.88 on Tuesday. The stock has a market cap of $43.01 billion, a PE ratio of 17.49, a P/E/G ratio of 2.12 and a beta of 1.71. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. United Rentals has a 1 year low of $387.01 and a 1 year high of $732.37. The stock’s 50 day simple moving average is $660.29 and its 200-day simple moving average is $646.84.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. United Rentals’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $7.95 earnings per share. Sell-side analysts forecast that United Rentals will post 43.87 EPS for the current year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.01%. United Rentals’s dividend payout ratio is currently 17.66%.

Insider Transactions at United Rentals

In other news, COO Michael D. Durand sold 559 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of the transaction, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Michael D. Durand sold 559 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the firm’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 value of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

Hedge Funds Weigh In On United Rentals

Large investors have recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in shares of 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 purchasing an additional 1,799,997 shares in the last quarter. Norges Bank acquired a new stake in shares of United Rentals during the 4th quarter valued at $977,443,000. International Assets Investment Management LLC boosted its holdings in shares of 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 valued at $598,106,000 after acquiring an additional 1,041,281 shares in the last quarter. Capital International Investors acquired a new stake in shares of United Rentals during the 1st quarter valued at $332,349,000. Finally, Heritage Wealth Advisors boosted its holdings in shares of United Rentals by 15,100.8% during the 1st quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock valued at $72,674,000 after acquiring an additional 100,118 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

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.