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

United Rentals (NYSE:URI) had its target price lifted by Morgan Stanley from $1,030.00 to $1,165.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other equities analysts have also recently issued research reports about the stock. Sanford C. Bernstein set a $903.00 target price on shares of United Rentals and gave the stock an “outperform” rating in a research report on Thursday, April 9th. KeyCorp raised their price target on United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Weiss Ratings cut shares of United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Truist Financial increased their target price on shares of United Rentals from $1,209.00 to $1,421.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Bank of America raised their price objective on United Rentals from $1,020.00 to $1,195.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,140.00.

United Rentals Stock Performance

Shares of URI opened at $1,043.73 on Friday. The company’s 50 day simple moving average is $1,041.31 and its 200-day simple moving average is $910.42. United Rentals has a 12-month low of $701.59 and a 12-month high of $1,143.69. The firm has a market cap of $65.39 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.71 and a beta of 1.79. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the previous year, the firm posted $8.86 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts predict that United Rentals will post 46.77 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared 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 0.8%. United Rentals’s payout ratio is 20.10%.

Insider Buying and Selling

In other United Rentals news, SVP Joli L. Gross sold 306 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. The trade was a 14.30% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 26,088 shares of company stock valued at $25,628,877. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of United Rentals

Several large investors have recently added to or reduced their stakes in URI. Capital World Investors boosted its stake in United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after purchasing an additional 30,263 shares during the period. Franklin Resources Inc. boosted its holdings in United Rentals by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after purchasing an additional 28,895 shares in the last quarter. Norges Bank bought a new stake in United Rentals in the fourth quarter valued at $978,017,000. Bank of America Corp DE grew its holdings in shares of United Rentals by 14.7% in the 1st quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after purchasing an additional 103,371 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of United Rentals by 4.0% during the fourth quarter. Boston Partners now owns 774,347 shares of the construction company’s stock worth $631,459,000 after buying an additional 29,675 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

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.