Raymond James Begins Coverage on United Rentals (NYSE:URI)

Raymond James started coverage on shares of United Rentals (NYSE:URI) in a report released on Friday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $750.00 price target on the construction company’s stock.

Other research analysts have also recently issued reports about the stock. Citigroup assumed coverage on shares of United Rentals in a report on Wednesday, June 26th. They set a buy rating and a $745.00 price objective for the company. The Goldman Sachs Group increased their price objective on United Rentals from $718.00 to $790.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Stifel Nicolaus raised their target price on United Rentals from $720.00 to $750.00 and gave the company a buy rating in a report on Friday, April 26th. Truist Financial upped their price target on United Rentals from $793.00 to $796.00 and gave the stock a buy rating in a report on Monday, April 29th. Finally, Oppenheimer restated a market perform rating on shares of United Rentals in a research note on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, United Rentals presently has an average rating of Hold and an average target price of $638.40.

United Rentals Stock Up 3.8 %

URI stock opened at $646.73 on Friday. The stock’s 50 day simple moving average is $660.38 and its 200 day simple moving average is $645.82. The company has a market cap of $43.07 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 2.09 and a beta of 1.75. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. United Rentals has a fifty-two week low of $387.01 and a fifty-two week high of $732.37.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $3.44 billion. During the same quarter in the previous year, the company posted $7.95 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that United Rentals will post 43.87 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a $1.63 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

Insider Buying and Selling at United Rentals

In other news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other United Rentals news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, 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. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of United Rentals

Institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its holdings in shares of United Rentals by 39.1% in the fourth quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after buying an additional 1,799,997 shares in the last quarter. Norges Bank purchased a new stake in United Rentals in the 4th quarter worth approximately $977,443,000. International Assets Investment Management LLC boosted its holdings in United Rentals by 58,829.4% in 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 purchasing an additional 1,041,281 shares during the period. Capital International Investors purchased a new position in shares of United Rentals during the 1st quarter valued at $332,349,000. Finally, Heritage Wealth Advisors increased its holdings in shares of United Rentals by 15,100.8% in the first quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock worth $72,674,000 after purchasing an additional 100,118 shares during the period. Hedge funds and other institutional investors 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.