Truist Financial Boosts United Rentals (NYSE:URI) Price Target to $955.00

United Rentals (NYSE:URI) had its target price raised by Truist Financial from $954.00 to $955.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other analysts have also issued research reports about the company. Robert W. Baird lifted their price objective on United Rentals from $565.00 to $650.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. The Goldman Sachs Group boosted their price target on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Raymond James assumed coverage on shares of United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 target price for the company. Finally, Citigroup increased 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. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, United Rentals presently has an average rating of “Hold” and an average price target of $742.50.

United Rentals Price Performance

URI opened at $812.50 on Friday. The company’s 50-day simple moving average is $772.68 and its two-hundred day simple moving average is $708.43. 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 stock has a market capitalization of $54.10 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.96 and a beta of 1.68. United Rentals has a 52-week low of $387.01 and a 52-week high of $861.74.

United Rentals (NYSE:URI) last issued its quarterly earnings data 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). United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company earned $11.73 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts predict that United Rentals will post 44.38 EPS for the current year.

United Rentals Dividend Announcement

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 paid a $1.63 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.80%. United Rentals’s payout ratio is 17.66%.

Insider Buying and Selling at United Rentals

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

Hedge Funds Weigh In On United Rentals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in URI. International Assets Investment Management LLC boosted 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 last quarter. Capital International Investors bought a new position in United Rentals during the first quarter valued at $332,349,000. AMF Tjanstepension AB increased its holdings in shares of United Rentals by 77.7% in the 2nd 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 during the last quarter. Marshall Wace LLP raised its position in shares of United Rentals by 259.3% during 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 in the last quarter. Finally, AGF Management Ltd. lifted its holdings 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 acquiring an additional 101,547 shares during the last quarter. 96.26% of the stock is owned by institutional investors.

About United Rentals

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.