Brokerages Set United Rentals, Inc. (NYSE:URI) Price Target at $1,246.19

United Rentals, Inc. (NYSE:URI) has received an average rating of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $1,230.8750.

A number of brokerages have commented on URI. Citigroup lifted their price target on United Rentals from $1,270.00 to $1,330.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Weiss Ratings upgraded United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Raymond James Financial reiterated an “outperform” rating and issued a $1,275.00 price objective on shares of United Rentals in a research report on Wednesday, June 10th. UBS Group set a $1,170.00 target price on shares of United Rentals in a research note on Thursday. Finally, Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a research note on Friday, July 24th.

United Rentals Stock Down 0.2%

Shares of NYSE URI opened at $986.88 on Monday. United Rentals has a 12-month low of $701.59 and a 12-month high of $1,179.18. The stock’s fifty day simple moving average is $1,076.70 and its two-hundred day simple moving average is $966.06. The stock has a market capitalization of $61.43 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.79. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 22nd. The construction company reported $12.76 EPS for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the company posted $10.47 earnings per share. United Rentals’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts expect that United Rentals will post 48.59 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a $1.97 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.8%. United Rentals’s dividend payout ratio is 18.92%.

Insider Transactions at United Rentals

In other news, EVP William Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its holdings in United Rentals by 110,181.2% in the 2nd quarter. California State Teachers Retirement System now owns 110,282,310 shares of the construction company’s stock valued at $124,937,726,000 after purchasing an additional 110,182,309 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of United Rentals during the 2nd quarter worth $5,816,326,000. Norges Bank purchased a new position in shares of United Rentals in the 4th quarter worth about $978,017,000. Bank of America Corp DE acquired a new position in United Rentals during the second quarter valued at approximately $944,196,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of United Rentals during the 2nd quarter valued at $716,129,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

About United Rentals

United Rentals, Inc is an equipment rental company serving construction, industrial, commercial, government and residential customers. The company provides access to a broad range of equipment without requiring customers to purchase and maintain their own fleets.

Its rental offerings include aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control equipment, pumps, tools, trench-safety products and traffic-control equipment.