United Rentals (NYSE:URI) Given New $950.00 Price Target at Citigroup

United Rentals (NYSE:URI) had its price objective decreased by Citigroup from $1,090.00 to $950.00 in a research note published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the company. KeyCorp set a $950.00 price target on United Rentals in a research report on Friday. Robert W. Baird set a $970.00 target price on United Rentals in a research report on Friday. Royal Bank Of Canada cut their price target on shares of United Rentals from $1,123.00 to $1,041.00 and set an “outperform” rating for the company in a report on Friday. Wells Fargo & Company increased their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Finally, Truist Financial set a $972.00 target price on shares of United Rentals in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $925.59.

United Rentals Stock Performance

Shares of NYSE URI opened at $779.31 on Monday. The company has a market capitalization of $49.10 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. The company’s fifty day moving average price is $848.95 and its 200 day moving average price is $888.26. United Rentals has a 1 year low of $525.91 and a 1 year high of $1,021.47.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company posted $11.59 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that United Rentals will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be given a dividend of $1.97 per share. The ex-dividend date is Wednesday, February 11th. This is a boost from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a yield of 1.0%. United Rentals’s dividend payout ratio (DPR) is presently 20.37%.

United Rentals announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the construction company to buy up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other United Rentals news, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $791.14, for a total value of $1,969,938.60. Following the transaction, the executive vice president directly owned 7,458 shares of the company’s stock, valued at $5,900,322.12. This trade represents a 25.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Institutional investors have recently added to or reduced their stakes in the stock. Aventura Private Wealth LLC acquired a new stake in shares of United Rentals in the 4th quarter worth $27,000. Loomis Sayles & Co. L P purchased a new stake in shares of United Rentals in the second quarter valued at about $28,000. Salomon & Ludwin LLC increased its position in United Rentals by 650.0% during the third quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in United Rentals during the third quarter worth about $29,000. Finally, Cedar Mountain Advisors LLC purchased a new position in United Rentals during the third quarter worth about $32,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

About United Rentals

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.