United Rentals (NYSE:URI) Price Target Raised to $1,235.00 at JPMorgan Chase & Co.

United Rentals (NYSE:URI) had its target price upped by JPMorgan Chase & Co. from $1,100.00 to $1,235.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

Several other brokerages also recently issued reports on URI. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Weiss Ratings lowered United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. KeyCorp reissued an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a report on Friday. BNP Paribas Exane upgraded United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a research note on Monday, June 29th. Finally, Truist Financial increased their price objective on United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research report on Friday. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,226.50.

United Rentals Stock Up 0.0%

URI opened at $1,140.19 on Friday. The stock’s fifty day simple moving average is $1,052.87 and its 200 day simple moving average is $919.10. United Rentals has a 1-year low of $701.59 and a 1-year high of $1,177.67. The stock has a market cap of $71.43 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79. 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 released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $10.47 earnings per share. As a group, research analysts expect that United Rentals will post 46.85 earnings per share for the current year.

United Rentals Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.

Insider Activity at United Rentals

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of URI. Cardinal Capital Management Inc. increased its stake in shares of United Rentals by 11.6% in the second quarter. Cardinal Capital Management Inc. now owns 49,644 shares of the construction company’s stock valued at $56,241,000 after buying an additional 5,142 shares during the period. Diversified Management Inc. acquired a new stake in shares of United Rentals during the second quarter worth $294,000. Generali Investments Management Co LLC lifted its holdings in United Rentals by 70.3% in the second quarter. Generali Investments Management Co LLC now owns 264 shares of the construction company’s stock valued at $299,000 after buying an additional 109 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in United Rentals by 7.2% in the second quarter. E. Ohman J or Asset Management AB now owns 3,038 shares of the construction company’s stock valued at $3,442,000 after buying an additional 205 shares during the period. Finally, Redhawk Wealth Advisors Inc. bought a new stake in United Rentals during the second quarter valued at $2,171,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Key United Rentals News

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.