United Rentals (NYSE:URI) Price Target Cut to $750.00 by Analysts at Bank of America

United Rentals (NYSE:URI) had its target price trimmed by Bank of America from $850.00 to $750.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

URI has been the subject of several other research reports. Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 target price for the company in a research note on Tuesday, January 14th. Citigroup reduced their price target on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley reduced their price target on shares of United Rentals from $775.00 to $765.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and a consensus target price of $815.67.

United Rentals Trading Down 0.3 %

Shares of URI opened at $628.63 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42. United Rentals has a 12-month low of $585.27 and a 12-month high of $896.98. The firm has a 50-day moving average price of $696.39 and a 200 day moving average price of $756.39. The firm has a market capitalization of $41.05 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.43 and a beta of 1.76.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Sell-side analysts forecast that United Rentals will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.79 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.16 dividend on an annualized basis and a yield of 1.14%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. United Rentals’s dividend payout ratio (DPR) is presently 18.48%.

Insiders Place Their Bets

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Rentals

Hedge funds have recently modified their holdings of the business. Rialto Wealth Management LLC purchased a new position in shares of United Rentals during the fourth quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in shares of United Rentals during the fourth quarter worth approximately $26,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of United Rentals during the fourth quarter worth approximately $27,000. Meeder Asset Management Inc. grew its position in shares of United Rentals by 241.7% during the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock worth $29,000 after acquiring an additional 29 shares during the last quarter. Finally, Hanson & Doremus Investment Management purchased a new position in shares of United Rentals during the fourth quarter worth approximately $33,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

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.