United Rentals, Inc. (NYSE:URI) to Issue $1.63 Quarterly Dividend

United Rentals, Inc. (NYSE:URI) declared a quarterly dividend on Wednesday, July 24th, RTT News reports. Shareholders of record on Wednesday, August 14th will be given a dividend of 1.63 per share by the construction company on Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.91%.

United Rentals has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect United Rentals to earn $47.00 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 13.9%.

United Rentals Stock Down 3.8 %

URI stock opened at $715.89 on Thursday. United Rentals has a fifty-two week low of $387.01 and a fifty-two week high of $759.98. The business’s 50 day moving average price is $662.04 and its two-hundred day moving average price is $659.91. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The company has a market capitalization of $47.67 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.44 and a beta of 1.71.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping the consensus estimate of $8.35 by $0.80. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.95 EPS. As a group, analysts forecast that United Rentals will post 43.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on URI. 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 research report on Tuesday, April 16th. Truist Financial decreased their target price on United Rentals from $796.00 to $785.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Raymond James started coverage on United Rentals in a research note on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target for the company. Citigroup began coverage on United Rentals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target for the company. Finally, Stifel Nicolaus raised their price objective on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $637.67.

Insiders Place Their Bets

In other news, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction that occurred 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 completion of the sale, the chief operating officer now 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 is accessible through this hyperlink. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction 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 transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at $72,341,742. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael D. Durand sold 559 shares of United Rentals stock in a transaction 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 in the company, valued at $5,431,557.12. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

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.