United Rentals (NYSE:URI) Price Target Raised to $1,165.00

United Rentals (NYSE:URI) had its price objective boosted by Morgan Stanley from $1,030.00 to $1,165.00 in a report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Several other brokerages also recently commented on URI. Royal Bank Of Canada lifted their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Truist Financial upped their target price on United Rentals from $1,209.00 to $1,421.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Raymond James Financial restated an “outperform” rating and set a $1,275.00 price target on shares of United Rentals in a research note on Wednesday, June 10th. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price on the stock in a research note on Monday, June 29th. Finally, Sanford C. Bernstein set a $903.00 price target on United Rentals and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,140.00.

United Rentals Price Performance

URI opened at $1,043.73 on Friday. The stock has a market cap of $65.39 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.67 and a beta of 1.79. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals has a 1 year low of $701.59 and a 1 year high of $1,143.69. The stock has a fifty day moving average price of $1,041.31 and a 200 day moving average price of $911.07.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.86 EPS. Analysts forecast that United Rentals will post 46.85 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals’s payout ratio is 20.10%.

Insider Buying and Selling

In related news, VP Andrew B. Limoges sold 548 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $977.86, for a total transaction of $535,867.28. Following the sale, the vice president owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. This trade represents a 22.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 26,088 shares of company stock valued at $25,628,877. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On United Rentals

Several institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its position in shares of United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after buying an additional 30,263 shares during the period. Franklin Resources Inc. grew its holdings in shares of United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after acquiring an additional 28,895 shares in the last quarter. Norges Bank bought a new position in shares of United Rentals in the 4th quarter valued at about $978,017,000. Bank of America Corp DE increased its position in shares of United Rentals by 14.7% in the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock valued at $587,496,000 after acquiring an additional 103,371 shares during the last quarter. Finally, Boston Partners raised its holdings in United Rentals by 4.0% during the fourth quarter. Boston Partners now owns 774,347 shares of the construction company’s stock worth $631,459,000 after acquiring an additional 29,675 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.