United Rentals, Inc. Declares Quarterly Dividend of $1.63 (NYSE:URI)

United Rentals, Inc. (NYSE:URI) announced a quarterly dividend on Wednesday, July 24th, RTT News reports. Investors of record on Wednesday, August 14th will be given a dividend of 1.63 per share by the construction company on Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 0.91%.

United Rentals has a payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect United Rentals to earn $47.00 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 13.9%.

United Rentals Stock Down 3.8 %

Shares of URI opened at $715.89 on Thursday. The company has a 50-day simple moving average of $662.04 and a 200-day simple moving average of $659.91. The firm has a market capitalization of $47.67 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.44 and a beta of 1.71. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. United Rentals has a 52 week low of $387.01 and a 52 week high of $759.98.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.95 earnings per share. On average, equities research analysts expect that United Rentals will post 43.89 earnings per share for the current year.

Insider Activity at United Rentals

In related news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction that occurred 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 sale, the chief executive officer now 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 can be accessed through this link. In other United Rentals news, 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 value of $377,079.04. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction that occurred 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 owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

URI has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Stifel Nicolaus upped their price objective on United Rentals from $720.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Citigroup initiated coverage on United Rentals in a research note on Wednesday, June 26th. They set a “buy” rating and a $745.00 price target on the stock. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. began coverage on United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $637.67.

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.