United Rentals, Inc. (NYSE:URI) COO Sells $377,079.04 in Stock

United Rentals, Inc. (NYSE:URI) COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the sale, the chief operating officer now directly owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

United Rentals Trading Up 0.3 %

URI opened at $666.66 on Friday. United Rentals, Inc. has a 52 week low of $325.15 and a 52 week high of $732.37. 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 business has a fifty day simple moving average of $683.37 and a 200-day simple moving average of $586.57. The firm has a market cap of $44.39 billion, a P/E ratio of 18.06, a P/E/G ratio of 2.17 and a beta of 1.82.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.35 by $0.80. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. United Rentals’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.95 EPS. On average, equities analysts expect that United Rentals, Inc. will post 43.61 earnings per share for the current year.

United Rentals declared that its Board of Directors has approved a stock 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 generally a sign that the company’s leadership believes its stock is undervalued.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date is Tuesday, May 7th. United Rentals’s payout ratio is currently 17.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on URI shares. The Goldman Sachs Group upped their price objective on shares of United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer reissued a “market perform” rating on shares of United Rentals in a research note on Monday, April 29th. Evercore ISI lifted their price target on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Stifel Nicolaus increased their price objective on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Morgan Stanley began coverage on United Rentals in a research note on Monday, January 8th. They set an “equal weight” rating and a $500.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $600.79.

Hedge Funds Weigh In On United Rentals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC purchased a new position in United Rentals in the third quarter valued at $281,000. Commonwealth Equity Services LLC boosted its stake in shares of United Rentals by 1.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 44,623 shares of the construction company’s stock valued at $19,838,000 after buying an additional 446 shares during the period. Xponance Inc. grew its position in shares of United Rentals by 0.4% during the third quarter. Xponance Inc. now owns 10,342 shares of the construction company’s stock worth $4,598,000 after buying an additional 40 shares in the last quarter. Pinnacle Associates Ltd. grew its position in shares of United Rentals by 2.0% during the third quarter. Pinnacle Associates Ltd. now owns 4,124 shares of the construction company’s stock worth $1,834,000 after buying an additional 79 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of United Rentals by 4.7% during the third quarter. Raymond James & Associates now owns 113,793 shares of the construction company’s stock worth $50,589,000 after buying an additional 5,117 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

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.