Evercore ISI Cuts United Rentals (NYSE:URI) Price Target to $974.00

United Rentals (NYSE:URI) had its target price cut by Evercore ISI from $1,004.00 to $974.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

URI has been the subject of a number of other research reports. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Citigroup dropped their price target on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Bank of America upped their price target on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and a consensus target price of $829.00.

United Rentals Stock Down 5.5 %

Shares of United Rentals stock opened at $656.42 on Wednesday. The firm has a market cap of $42.87 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.46 and a beta of 1.68. The business has a 50-day moving average price of $731.32 and a 200 day moving average price of $769.34. United Rentals has a fifty-two week low of $596.48 and a fifty-two week high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. On average, sell-side analysts forecast that United Rentals will post 44.93 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 1.09%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Wednesday, February 12th. United Rentals’s dividend payout ratio is 18.48%.

Institutional Investors Weigh In On United Rentals

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of United Rentals by 82,462.2% in the third quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after buying an additional 1,604,715 shares during the period. Norges Bank bought a new stake in shares of United Rentals in the fourth quarter valued at about $695,716,000. Leigh Baldwin & CO. LLC bought a new stake in shares of United Rentals in the fourth quarter valued at about $330,989,000. Capital World Investors lifted its stake in shares of United Rentals by 17.1% in the fourth quarter. Capital World Investors now owns 2,221,228 shares of the construction company’s stock valued at $1,564,722,000 after buying an additional 323,636 shares during the period. Finally, Capital International Investors lifted its stake in shares of United Rentals by 41.0% in the fourth quarter. Capital International Investors now owns 1,051,365 shares of the construction company’s stock valued at $740,624,000 after buying an additional 305,491 shares during the period. 96.26% of the stock is currently owned by institutional investors.

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.