United Rentals (NYSE:URI) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of United Rentals (NYSE:URI) from an underperform rating to a neutral rating in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm currently has $658.00 price objective on the construction company’s stock.

A number of other equities research analysts have also recently commented on the company. Bank of America raised their price target on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Truist Financial boosted their price target on United Rentals from $955.00 to $965.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays increased their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Citigroup boosted their target price on shares of United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Argus raised their target price on shares of United Rentals from $840.00 to $880.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price of $805.08.

United Rentals Trading Up 2.2 %

Shares of NYSE:URI opened at $758.03 on Tuesday. The stock has a 50 day moving average of $782.94 and a 200 day moving average of $759.89. The company has a market cap of $49.74 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.69. United Rentals has a 12-month low of $545.16 and a 12-month high of $896.98. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.

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 firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $11.73 earnings per share. As a group, equities research analysts expect that United Rentals will post 43.46 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Wednesday, November 13th. United Rentals’s dividend payout ratio is 17.03%.

Insider Activity at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total transaction of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.49% of the stock is owned by insiders.

Hedge Funds Weigh In On United Rentals

Several large investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its stake in shares of United Rentals by 11.8% in the second quarter. Federated Hermes Inc. now owns 23,054 shares of the construction company’s stock valued at $14,910,000 after acquiring an additional 2,438 shares during the period. Envestnet Asset Management Inc. raised its position in United Rentals by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,276 shares of the construction company’s stock worth $55,151,000 after purchasing an additional 2,902 shares during the period. One Capital Management LLC purchased a new position in shares of United Rentals during the second quarter valued at approximately $358,000. WealthPLAN Partners LLC grew its stake in shares of United Rentals by 40.7% during the second quarter. WealthPLAN Partners LLC now owns 615 shares of the construction company’s stock valued at $398,000 after buying an additional 178 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of United Rentals by 22.4% during the 2nd quarter. Moors & Cabot Inc. now owns 17,271 shares of the construction company’s stock worth $11,170,000 after acquiring an additional 3,159 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

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.