Citigroup Issues Positive Forecast for United Rentals (NYSE:URI) Stock Price

United Rentals (NYSE:URI) had its price target hoisted by Citigroup from $1,270.00 to $1,330.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other equities analysts have also recently issued reports about the stock. Raymond James Financial restated an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. Morgan Stanley lifted their target price on shares of United Rentals from $1,030.00 to $1,165.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. UBS Group reissued a “buy” rating and set a $1,350.00 target price on shares of United Rentals in a research note on Thursday. Robert W. Baird upped their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, KeyCorp raised their price target on shares of United Rentals from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.

United Rentals Stock Up 0.0%

Shares of URI opened at $1,140.19 on Friday. The firm has a market cap of $70.97 billion, a P/E ratio of 27.38, a PEG ratio of 1.82 and a beta of 1.79. United Rentals has a 12 month low of $701.59 and a 12 month high of $1,177.67. The stock’s 50 day moving average is $1,052.87 and its two-hundred day moving average is $919.10. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last announced its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the company posted $10.47 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts predict that United Rentals will post 46.85 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is currently 20.10%.

Insider Transactions at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president owned 5,738 shares in the company, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On United Rentals

Several hedge funds and other institutional investors have recently made changes to their positions in URI. Core Wealth Advisors LLC purchased a new stake in United Rentals in the 4th quarter valued at $28,000. MV Capital Management Inc. acquired a new position in shares of United Rentals during the 4th quarter valued at about $28,000. Laurel Wealth Advisors LLC acquired a new position in shares of United Rentals during the 4th quarter valued at about $32,000. Fortitude Family Office LLC grew its holdings in shares of United Rentals by 121.1% in the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock valued at $34,000 after purchasing an additional 23 shares during the period. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of United Rentals in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Key Headlines Impacting United Rentals

Here are the key news stories impacting United Rentals this week:

• Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
• Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
• Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
• Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
• Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
• Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement

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.