United Rentals (NYSE:URI) Stock Price Up 6.9% – Here’s Why

United Rentals, Inc. (NYSE:URI)’s stock price rose 6.9% during mid-day trading on Wednesday . The stock traded as high as $1,059.43 and last traded at $1,063.5510. Approximately 513,010 shares changed hands during trading, a decline of 18% from the average daily volume of 625,602 shares. The stock had previously closed at $994.82.

Analyst Ratings Changes

A number of equities research analysts have commented on URI shares. Truist Financial set a $1,209.00 price target on United Rentals in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on United Rentals from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. KeyCorp increased their target price on shares of United Rentals from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Robert W. Baird raised their price target on shares of United Rentals from $970.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Barclays boosted their price target on shares of United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research report on Friday, April 24th. Twelve research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, United Rentals has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.63.

United Rentals Stock Down 1.5%

The company has a market cap of $66.93 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 1.68 and a beta of 1.81. The stock’s 50-day moving average is $879.45 and its 200-day moving average is $850.87. 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 posted its quarterly 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 company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $8.86 earnings per share. On average, analysts anticipate that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

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

Insider Transactions at United Rentals

In related news, EVP Craig Adam Pintoff sold 2,466 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This trade represents a 14.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction 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 sale, the senior vice president directly owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 26,088 shares of company stock valued at $25,628,877 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Beacon Investment Advisory Services Inc. lifted its position in shares of United Rentals by 1,358.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 8,227 shares of the construction company’s stock valued at $6,658,000 after purchasing an additional 7,663 shares in the last quarter. Roman Butler Fullerton & Co. raised its holdings in shares of United Rentals by 70.7% in the 3rd quarter. Roman Butler Fullerton & Co. now owns 1,707 shares of the construction company’s stock worth $1,486,000 after purchasing an additional 707 shares during the period. Caprock Group LLC purchased a new position in shares of United Rentals during the 3rd quarter valued at $5,574,000. Nordea Investment Management AB lifted its holdings in United Rentals by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 154,688 shares of the construction company’s stock valued at $126,362,000 after purchasing an additional 28,604 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of United Rentals by 66.5% in the third quarter. TD Asset Management Inc now owns 484,450 shares of the construction company’s stock worth $462,485,000 after purchasing an additional 193,416 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

About United Rentals

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.