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

United Rentals (NYSE:URI) had its target price lifted by Citigroup from $1,210.00 to $1,270.00 in a research report sent to investors on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also recently issued reports on the company. Bank of America increased their target price on United Rentals from $1,020.00 to $1,195.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Barclays boosted their price target on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Royal Bank Of Canada upped their price target on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Truist Financial lifted their price objective on United Rentals from $1,209.00 to $1,421.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective for the company in a report on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,131.56.

United Rentals Trading Down 1.9%

Shares of URI stock opened at $1,064.77 on Tuesday. The firm has a fifty day moving average of $1,034.86 and a 200-day moving average of $906.18. The stock has a market cap of $66.71 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 1.74 and a beta of 1.79. United Rentals has a 52-week low of $701.59 and a 52-week high of $1,143.69. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. United Rentals’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $8.86 earnings per share. On average, equities research analysts forecast that United Rentals will post 46.7 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a $1.97 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s payout ratio is presently 20.10%.

Insiders Place Their Bets

In other United Rentals news, VP Andrew B. Limoges sold 548 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $977.86, for a total value of $535,867.28. Following the transaction, the vice president owned 1,865 shares of the company’s stock, valued at approximately $1,823,708.90. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joli L. Gross sold 306 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president owned 5,738 shares in the company, valued at $5,479,732.62. The trade was a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in URI. Norges Bank acquired a new position in United Rentals during the fourth quarter valued at approximately $978,017,000. Corient Private Wealth LLC increased its position in shares of United Rentals by 1,667.4% during the 4th quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after purchasing an additional 324,503 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of United Rentals by 3,459.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock worth $159,184,000 after purchasing an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of United Rentals during the 4th quarter worth approximately $102,945,000. Finally, Victory Capital Management Inc. raised its stake in shares of United Rentals by 103.7% during the 4th quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock worth $186,967,000 after purchasing an additional 117,584 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

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.