United Rentals (NYSE:URI) Sets New 12-Month High – Time to Buy?

United Rentals, Inc. (NYSE:URI) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $862.53 and last traded at $862.53, with a volume of 37176 shares changing hands. The stock had previously closed at $798.00.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on URI shares. Evercore ISI upped their target price on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. increased their price target on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. The Goldman Sachs Group upped their price objective on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Bank of America upped their target price on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Barclays increased their price target on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $742.50.

United Rentals Price Performance

The company has a market cap of $57.77 billion, a P/E ratio of 22.99, a PEG ratio of 1.84 and a beta of 1.68. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.77 and a current ratio of 0.82. The company has a fifty day moving average price of $783.42 and a two-hundred day moving average price of $715.89.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.73 earnings per share. On average, sell-side analysts anticipate that United Rentals, Inc. will post 43.66 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is presently 17.03%.

Insider Activity

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mizuho Securities USA LLC lifted its holdings in shares of United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock worth $48,486,000 after buying an additional 54,750 shares in the last quarter. KCM Investment Advisors LLC bought a new stake in United Rentals in the 3rd quarter valued at about $201,000. Empowered Funds LLC grew its position in shares of United Rentals by 22.3% during the 3rd quarter. Empowered Funds LLC now owns 5,092 shares of the construction company’s stock worth $4,123,000 after purchasing an additional 929 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of United Rentals by 1.9% in the third quarter. Empirical Finance LLC now owns 2,376 shares of the construction company’s stock valued at $1,924,000 after buying an additional 44 shares during the period. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in United Rentals during the third quarter worth approximately $206,000. 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.