United Rentals (NYSE:URI) Sets New 1-Year High at $801.39

United Rentals, Inc. (NYSE:URI) shares hit a new 52-week high on Wednesday . The stock traded as high as $801.39 and last traded at $797.91, with a volume of 342661 shares traded. The stock had previously closed at $771.26.

Analyst Ratings Changes

URI has been the topic of several research reports. The Goldman Sachs Group lifted their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Citigroup assumed coverage on United Rentals in a research report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target for the company. Evercore ISI raised their price objective on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Raymond James assumed coverage on shares of United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on shares of United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $675.15.

United Rentals Stock Performance

The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average price of $715.08 and a 200-day moving average price of $685.31. The stock has a market capitalization of $51.15 billion, a PE ratio of 21.28, a PEG ratio of 1.72 and a beta of 1.68.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, topping the consensus estimate of $10.48 by $0.22. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $9.88 EPS. Research analysts expect that United Rentals, Inc. will post 44.39 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Wednesday, August 14th. United Rentals’s dividend payout ratio is currently 17.66%.

Insider Buying and Selling

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were 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 owns 4,090 shares in the company, valued at $2,822,100. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On United Rentals

Hedge funds have recently bought and sold shares of the business. Capital Research Global Investors raised its stake in shares of United Rentals by 39.1% during the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock worth $3,669,806,000 after buying an additional 1,799,997 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in United Rentals by 1.8% during 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 purchasing an additional 11,429 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of United Rentals by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after purchasing an additional 27,708 shares during the period. Capital International Investors purchased a new stake in shares of United Rentals during the first quarter worth about $332,349,000. Finally, AMF Tjanstepension AB raised its position in shares of United Rentals by 77.7% during the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock worth $295,626,000 after purchasing an additional 199,810 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

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.