Robert W. Baird Raises United Rentals (NYSE:URI) Price Target to $650.00

United Rentals (NYSE:URI) had its target price raised by Robert W. Baird from $565.00 to $650.00 in a research report sent to investors on Thursday morning. Robert W. Baird currently has an underperform rating on the construction company’s stock.

Several other equities research analysts also recently issued reports on URI. Raymond James began coverage on shares of United Rentals in a research report on Friday, June 28th. They set an outperform rating and a $750.00 price objective for the company. Truist Financial increased their target price on United Rentals from $785.00 to $873.00 and gave the stock a buy rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on United Rentals from $780.00 to $940.00 and gave the company an overweight rating in a report on Monday, September 23rd. The Goldman Sachs Group increased their price objective on United Rentals from $790.00 to $905.00 and gave the stock a buy rating in a report on Friday, July 26th. Finally, Evercore ISI boosted their target price on United Rentals from $774.00 to $795.00 and gave the company an outperform rating in a research note on Monday, August 19th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has an average rating of Hold and an average price target of $694.46.

United Rentals Stock Up 0.0 %

Shares of NYSE:URI opened at $789.52 on Thursday. The company has a 50 day moving average price of $735.99 and a two-hundred day moving average price of $695.90. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $52.57 billion, a PE ratio of 21.38, a PEG ratio of 1.84 and a beta of 1.68. United Rentals has a 52 week low of $387.01 and a 52 week high of $826.24.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the firm earned $9.88 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Analysts forecast that United Rentals will post 44.39 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s payout ratio is currently 17.66%.

Insiders Place Their Bets

In other news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the sale, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at $2,822,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.

Institutional Trading of United Rentals

A number of hedge funds have recently modified their holdings of URI. Handelsbanken Fonder AB raised its holdings in United Rentals by 1.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,197 shares of the construction company’s stock valued at $10,686,000 after acquiring an additional 151 shares during the period. Czech National Bank increased its stake in shares of United Rentals by 6.9% during the third quarter. Czech National Bank now owns 13,565 shares of the construction company’s stock worth $10,984,000 after purchasing an additional 875 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of United Rentals by 53.7% during the third quarter. Central Pacific Bank Trust Division now owns 2,003 shares of the construction company’s stock worth $1,622,000 after purchasing an additional 700 shares during the period. Mattson Financial Services LLC acquired a new stake in United Rentals during the 2nd quarter worth approximately $1,754,000. Finally, Centaurus Financial Inc. boosted its stake in United Rentals by 14.3% in the 2nd quarter. Centaurus Financial Inc. now owns 889 shares of the construction company’s stock valued at $575,000 after purchasing an additional 111 shares during the period. 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.