Brokerages Set United Rentals, Inc. (NYSE:URI) Target Price at $670.92

United Rentals, Inc. (NYSE:URI) has been given an average recommendation of “Hold” by the fifteen ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $675.15.

A number of research firms have commented on URI. The Goldman Sachs Group raised their price objective on United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. initiated coverage on United Rentals in a research note on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target for the company. Evercore ISI increased their price objective on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Truist Financial raised their target price on shares of United Rentals from $785.00 to $873.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Raymond James initiated coverage on shares of United Rentals in a report on Friday, June 28th. They set an “outperform” rating and a $750.00 price target for the company.

United Rentals Trading Up 3.9 %

URI stock opened at $745.03 on Friday. United Rentals has a 52 week low of $387.01 and a 52 week high of $789.80. The company has a market capitalization of $49.61 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.71. The company’s 50-day simple moving average is $687.20 and its 200 day simple moving average is $677.82. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.48 by $0.22. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted $9.88 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Rentals will post 44.4 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Wednesday, August 14th. United Rentals’s payout ratio is 17.66%.

Insider Buying and Selling

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now directly owns 4,090 shares in the company, valued at $2,822,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On United Rentals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors grew its stake in shares of United Rentals by 39.1% in the fourth quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after purchasing an additional 1,799,997 shares during the last quarter. Norges Bank bought a new stake in shares of United Rentals in the 4th quarter valued at about $977,443,000. Dimensional Fund Advisors LP increased its stake in shares of United Rentals by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,246,092 shares of the construction company’s stock valued at $714,578,000 after buying an additional 56,948 shares during the period. The Manufacturers Life Insurance Company lifted its stake in United Rentals by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock valued at $372,945,000 after buying an additional 11,429 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of United Rentals by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock worth $412,089,000 after buying an additional 27,708 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

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.