United Rentals, Inc. Plans Quarterly Dividend of $1.63 (NYSE:URI)

United Rentals, Inc. (NYSE:URI) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 1.63 per share by the construction company on Wednesday, May 22nd. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, May 7th.

United Rentals has a payout ratio of 13.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect United Rentals to earn $47.04 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 13.9%.

United Rentals Trading Up 0.3 %

Shares of URI opened at $666.66 on Monday. The firm has a market capitalization of $44.39 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 2.17 and a beta of 1.82. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. United Rentals has a 12-month low of $325.15 and a 12-month high of $732.37. The stock’s 50-day moving average price is $683.37 and its 200 day moving average price is $588.62.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.95 earnings per share. As a group, research analysts predict that United Rentals will post 43.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on URI shares. The Goldman Sachs Group increased their target price on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Truist Financial increased their price target on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Robert W. Baird lifted their price objective on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research report on Friday, January 26th. Stifel Nicolaus boosted their price objective on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Oppenheimer restated a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of “Hold” and an average price target of $600.79.

United Rentals declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the transaction, the chief financial officer now owns 6,323 shares in the company, valued at $4,145,485.26. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William E. Grace sold 775 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,713 shares of company stock worth $6,747,384. Insiders own 0.49% 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.