United Rentals (NYSE:URI) Price Target Raised to $910.00 at Bank of America

United Rentals (NYSE:URI) had its price target increased by Bank of America from $800.00 to $910.00 in a report published on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the construction company’s stock.

Several other research analysts have also weighed in on the company. Raymond James began coverage on United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 price target on the stock. Citigroup upped their price target on shares of United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Robert W. Baird upped their target price on shares of United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group lifted their price target on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, United Rentals currently has an average rating of “Hold” and a consensus target price of $742.50.

United Rentals Stock Performance

Shares of URI stock opened at $812.50 on Thursday. The firm has a market cap of $54.10 billion, a PE ratio of 22.01, a P/E/G ratio of 1.96 and a beta of 1.68. United Rentals has a 12 month low of $387.01 and a 12 month high of $861.74. The company’s fifty day simple moving average is $772.68 and its 200-day simple moving average is $708.43. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.73 earnings per share. Equities research analysts expect that United Rentals will post 44.38 EPS for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s payout ratio is 17.66%.

Insider Transactions at United Rentals

In related news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the transaction, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On United Rentals

A number of large investors have recently added to or reduced their stakes in URI. International Assets Investment Management LLC lifted its position in shares of United Rentals by 82,462.2% during the 3rd 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 acquiring an additional 1,604,715 shares during the period. Capital International Investors bought a new stake in United Rentals during the first quarter worth about $332,349,000. AMF Tjanstepension AB grew its stake in United Rentals by 77.7% during the second quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after buying an additional 199,810 shares in the last quarter. Marshall Wace LLP increased its holdings in United Rentals by 259.3% in the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock valued at $97,108,000 after buying an additional 108,360 shares during the period. Finally, AGF Management Ltd. raised its position in shares of United Rentals by 4,778.7% in the 2nd quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock valued at $67,048,000 after buying an additional 101,547 shares in the last quarter. 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.