United Rentals (NYSE:URI) Stock Price Expected to Rise, Citigroup Analyst Says

United Rentals (NYSE:URI) had its target price upped by Citigroup from $955.00 to $985.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other research firms have also issued reports on URI. Argus upped their target price on shares of United Rentals from $840.00 to $880.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Evercore ISI increased their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Truist Financial lifted their price objective on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Robert W. Baird upped their target price on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $770.00.

United Rentals Stock Down 2.7 %

Shares of URI stock opened at $835.89 on Monday. United Rentals has a twelve month low of $491.60 and a twelve month high of $896.98. The stock has a market cap of $54.85 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.01 and a beta of 1.66. The stock has a 50 day moving average of $834.75 and a 200 day moving average of $745.44. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $11.73 earnings per share. As a group, sell-side analysts expect that United Rentals will post 43.46 EPS for the current year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $1.63 per share. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.78%. United Rentals’s dividend payout ratio is currently 17.03%.

Insider Activity at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of United Rentals stock in a transaction on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Several hedge funds and other institutional investors have recently made changes to their positions in URI. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of United Rentals by 11.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,203 shares of the construction company’s stock valued at $7,492,000 after acquiring an additional 964 shares during the period. Essex Financial Services Inc. raised its holdings in shares of United Rentals by 31.9% in the second quarter. Essex Financial Services Inc. now owns 563 shares of the construction company’s stock worth $364,000 after acquiring an additional 136 shares during the last quarter. Retireful LLC acquired a new stake in United Rentals in the 3rd quarter worth about $697,000. Mizuho Securities USA LLC grew its holdings in shares of United Rentals by 1,067.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock worth $48,486,000 after purchasing an additional 54,750 shares during the period. Finally, Waverton Investment Management Ltd raised its holdings in shares of United Rentals by 1.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 210,588 shares of the construction company’s stock valued at $170,392,000 after buying an additional 2,497 shares during the period. 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.