United Rentals (NYSE:URI) Upgraded to Neutral at Robert W. Baird

Robert W. Baird upgraded shares of United Rentals (NYSE:URI) from an underperform rating to a neutral rating in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has $658.00 price objective on the construction company’s stock.

Several other research firms also recently weighed in on URI. JPMorgan Chase & Co. raised their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Barclays raised their price objective on United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Truist Financial upped their target price on shares of United Rentals from $955.00 to $965.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Bank of America raised their price target on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Citigroup boosted their price target on shares of United Rentals from $955.00 to $985.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $805.25.

United Rentals Price Performance

Shares of United Rentals stock opened at $729.60 on Tuesday. The firm has a market cap of $47.88 billion, a PE ratio of 19.05, a P/E/G ratio of 1.83 and a beta of 1.69. United Rentals has a twelve month low of $545.16 and a twelve month high of $896.98. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. The business has a 50-day moving average price of $787.08 and a 200 day moving average price of $759.44.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $11.73 earnings per share. Sell-side analysts predict that United Rentals will post 43.46 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $1.63 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $6.52 annualized dividend and a yield of 0.89%. United Rentals’s payout ratio is 17.03%.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the transaction, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On United Rentals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mayflower Financial Advisors LLC grew its holdings in shares of United Rentals by 4.0% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 339 shares of the construction company’s stock worth $274,000 after purchasing an additional 13 shares during the period. Allen Capital Group LLC lifted its position in United Rentals by 4.2% in the third quarter. Allen Capital Group LLC now owns 324 shares of the construction company’s stock valued at $262,000 after buying an additional 13 shares during the last quarter. First County Bank CT boosted its stake in United Rentals by 3.2% during the third quarter. First County Bank CT now owns 422 shares of the construction company’s stock worth $342,000 after buying an additional 13 shares during the period. IAM Advisory LLC increased its position in shares of United Rentals by 1.6% during the third quarter. IAM Advisory LLC now owns 900 shares of the construction company’s stock valued at $729,000 after acquiring an additional 14 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in shares of United Rentals by 1.7% in the 3rd quarter. CVA Family Office LLC now owns 844 shares of the construction company’s stock valued at $683,000 after acquiring an additional 14 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.