Raymond James Initiates Coverage on United Rentals (NYSE:URI)

Raymond James started coverage on shares of United Rentals (NYSE:URI) in a report published on Friday, Marketbeat.com reports. The brokerage issued an outperform rating and a $750.00 price objective on the construction company’s stock.

Other equities research analysts have also issued reports about the company. Oppenheimer reiterated a market perform rating on shares of United Rentals in a report on Monday, April 29th. The Goldman Sachs Group lifted their target price on shares of United Rentals from $718.00 to $790.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Citigroup assumed coverage on shares of United Rentals in a research note on Wednesday, June 26th. They set a buy rating and a $745.00 price target on the stock. Stifel Nicolaus lifted their price objective on shares of United Rentals from $720.00 to $750.00 and gave the company a buy rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. began coverage on shares of United Rentals in a research report on Friday, June 7th. They set an overweight rating and a $780.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $638.40.

United Rentals Stock Down 0.9 %

United Rentals stock opened at $640.84 on Friday. United Rentals has a twelve month low of $387.01 and a twelve month high of $732.37. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The firm has a market cap of $42.67 billion, a PE ratio of 17.36, a P/E/G ratio of 2.12 and a beta of 1.75. The firm’s 50 day moving average price is $660.61 and its two-hundred day moving average price is $646.32.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. United Rentals’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $7.95 earnings per share. On average, research analysts predict that United Rentals will post 43.87 EPS for the current fiscal year.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, May 7th. United Rentals’s dividend payout ratio (DPR) is currently 17.66%.

Insiders Place Their Bets

In related news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the transaction, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On United Rentals

Several institutional investors and hedge funds have recently bought and sold shares of URI. Bank of New Hampshire boosted its holdings in United Rentals by 1.0% during the second quarter. Bank of New Hampshire now owns 3,310 shares of the construction company’s stock valued at $2,141,000 after purchasing an additional 32 shares in the last quarter. Bright Futures Wealth Management LLC. acquired a new stake in United Rentals in the 1st quarter valued at $1,754,000. Jackson Wealth Management LLC grew its position in United Rentals by 7.1% in the first quarter. Jackson Wealth Management LLC now owns 8,069 shares of the construction company’s stock valued at $5,819,000 after acquiring an additional 532 shares during the period. EverSource Wealth Advisors LLC raised its stake in United Rentals by 50.9% during the first quarter. EverSource Wealth Advisors LLC now owns 175 shares of the construction company’s stock worth $117,000 after acquiring an additional 59 shares in the last quarter. Finally, Cetera Advisors LLC lifted its holdings in shares of United Rentals by 146.6% during the first quarter. Cetera Advisors LLC now owns 6,176 shares of the construction company’s stock valued at $4,454,000 after acquiring an additional 3,672 shares during the period. Institutional investors own 96.26% of the company’s stock.

About United Rentals

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.