United Rentals (NYSE:URI) Sets New 1-Year High After Dividend Announcement

United Rentals, Inc. (NYSE:URI)’s share price reached a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as $1,169.39 and last traded at $1,169.9020, with a volume of 142751 shares changing hands. The stock had previously closed at $1,035.06.

The newly announced dividend which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio is 20.10%.

Wall Street Analyst Weigh In

URI has been the topic of a number of recent research reports. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the company an “outperform” rating in a report on Thursday, April 9th. Morgan Stanley set a $1,335.00 target price on shares of United Rentals and gave the company an “overweight” rating in a research report on Friday. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a research note on Friday. Royal Bank Of Canada boosted their price target on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Weiss Ratings cut United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Fourteen 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,226.50.

United Rentals Stock Performance

The stock has a market capitalization of $70.97 billion, a P/E ratio of 27.38, a PEG ratio of 1.82 and a beta of 1.79. The stock’s 50-day simple moving average is $1,052.87 and its 200 day simple moving average is $919.10. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.74.

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

United Rentals News Summary

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

Insider Activity at United Rentals

In other news, 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 transaction of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were 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 approximately $14,227,362. This represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Core Wealth Advisors LLC acquired a new position in United Rentals during the 4th quarter worth approximately $28,000. MV Capital Management Inc. acquired a new stake in United Rentals in the fourth quarter valued at approximately $28,000. Laurel Wealth Advisors LLC bought a new stake in shares of United Rentals during the fourth quarter worth $32,000. Fortitude Family Office LLC grew its stake in shares of United Rentals by 121.1% during the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock worth $34,000 after buying an additional 23 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of United Rentals during the fourth quarter worth $34,000. 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.