United Rentals (NYSE:URI) Given New $796.00 Price Target at Truist Financial

United Rentals (NYSE:URI) had its target price boosted by Truist Financial from $793.00 to $796.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other research analysts have also weighed in on the company. Robert W. Baird boosted their price target on United Rentals from $322.00 to $559.00 and gave the stock an underperform rating in a research report on Friday, January 26th. The Goldman Sachs Group boosted their target price on shares of United Rentals from $718.00 to $790.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Stifel Nicolaus increased their price target on shares of United Rentals from $720.00 to $750.00 and gave the company a buy rating in a research note on Friday. Evercore ISI boosted their price objective on shares of United Rentals from $575.00 to $740.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley began coverage on shares of United Rentals in a report on Monday, January 8th. They issued an equal weight rating and a $500.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $600.79.

United Rentals Price Performance

NYSE URI opened at $712.62 on Monday. The firm’s 50 day moving average is $682.42 and its 200-day moving average is $582.31. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $47.45 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 2.10 and a beta of 1.84. United Rentals has a 12-month low of $325.15 and a 12-month high of $732.37.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the previous year, the business earned $7.95 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that United Rentals will post 43.54 earnings per share for the current fiscal year.

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

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s payout ratio is 17.66%.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in URI. First Financial Corp IN acquired a new stake in United Rentals during the first quarter worth approximately $25,000. Rise Advisors LLC bought a new position in shares of United Rentals in the first quarter worth $28,000. Riverview Trust Co bought a new position in shares of United Rentals in the first quarter worth $31,000. AdvisorNet Financial Inc raised its stake in United Rentals by 71.4% in the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Finally, PFS Partners LLC bought a new stake in United Rentals during the first quarter worth about $36,000. 96.26% of the stock is owned by institutional investors.

United Rentals Company Profile

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.