Truist Financial Cuts United Rentals (NYSE:URI) Price Target to $785.00

United Rentals (NYSE:URI) had its price objective trimmed by Truist Financial from $796.00 to $785.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other research analysts also recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of United Rentals from $720.00 to $750.00 and gave the stock a buy rating in a research note on Friday, April 26th. Citigroup started coverage on United Rentals in a research note on Wednesday, June 26th. They set a buy rating and a $745.00 target price on the stock. Oppenheimer restated a market perform rating on shares of United Rentals in a research note on Monday, April 29th. Raymond James started coverage on United Rentals in a research report on Friday, June 28th. They set an outperform rating and a $750.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on United Rentals in a research report on Friday, June 7th. They issued an overweight rating and a $780.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $637.67.

United Rentals Stock Performance

Shares of URI opened at $653.95 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The stock has a market cap of $43.55 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.13 and a beta of 1.71. The business’s 50 day moving average price is $659.53 and its 200-day moving average price is $646.94. United Rentals has a 52 week low of $387.01 and a 52 week high of $732.37.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping the consensus estimate of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the company posted $7.95 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that United Rentals will post 43.71 earnings per share for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were given a dividend of $1.63 per share. The ex-dividend date was Tuesday, May 7th. This represents a $6.52 annualized dividend and a yield of 1.00%. United Rentals’s dividend payout ratio (DPR) is 17.66%.

Insider Buying and Selling at United Rentals

In related news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the transaction, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Michael D. Durand sold 559 shares of the firm’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 owns 8,052 shares in the company, valued at approximately $5,431,557.12. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Glenmede Trust Co. NA boosted its stake in shares of United Rentals by 71.8% in the third quarter. Glenmede Trust Co. NA now owns 7,348 shares of the construction company’s stock worth $3,267,000 after acquiring an additional 3,071 shares during the period. Axxcess Wealth Management LLC purchased a new stake in United Rentals during the 3rd quarter valued at approximately $746,000. Royal London Asset Management Ltd. raised its position in shares of United Rentals by 8.7% during the third quarter. Royal London Asset Management Ltd. now owns 38,230 shares of the construction company’s stock valued at $17,004,000 after buying an additional 3,045 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of United Rentals by 12.7% in the third quarter. The Manufacturers Life Insurance Company now owns 638,958 shares of the construction company’s stock worth $284,061,000 after buying an additional 72,066 shares in the last quarter. Finally, Toroso Investments LLC lifted its holdings in shares of United Rentals by 22.2% in the third quarter. Toroso Investments LLC now owns 3,852 shares of the construction company’s stock worth $1,712,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors 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.