United Rentals (NYSE:URI) PT Raised to $940.00 at JPMorgan Chase & Co.

United Rentals (NYSE:URI) had its target price increased by JPMorgan Chase & Co. from $780.00 to $940.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other analysts have also recently issued research reports about the company. Truist Financial lifted their price target on United Rentals from $785.00 to $873.00 and gave the company a buy rating in a report on Friday, July 26th. Evercore ISI boosted their target price on United Rentals from $774.00 to $795.00 and gave the stock an outperform rating in a report on Monday, August 19th. Citigroup started coverage on United Rentals in a report on Wednesday, June 26th. They set a buy rating and a $745.00 target price for the company. Raymond James started coverage on United Rentals in a report on Friday, June 28th. They set an outperform rating and a $750.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on United Rentals from $790.00 to $905.00 and gave the stock a buy rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $687.46.

United Rentals Stock Up 0.2 %

URI opened at $803.41 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $53.14 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.68. The business has a 50-day moving average of $728.36 and a two-hundred day moving average of $690.60. United Rentals has a 12 month low of $387.01 and a 12 month high of $826.24.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 EPS for the quarter, beating the consensus estimate of $10.48 by $0.22. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.88 EPS. On average, research analysts expect that United Rentals will post 44.39 earnings per share for the current year.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Wednesday, August 14th. United Rentals’s dividend payout ratio is presently 17.66%.

Insiders Place Their Bets

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares in the company, valued at approximately $2,822,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Rentals

A number of institutional investors have recently made changes to their positions in the business. Capital Research Global Investors raised its position in shares of United Rentals by 39.1% in the 4th quarter. Capital Research Global Investors now owns 6,399,808 shares of the construction company’s stock valued at $3,669,806,000 after purchasing an additional 1,799,997 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of United Rentals by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 650,387 shares of the construction company’s stock valued at $372,945,000 after purchasing an additional 11,429 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of United Rentals by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after purchasing an additional 27,708 shares in the last quarter. Capital International Investors acquired a new position in shares of United Rentals in the 1st quarter valued at approximately $332,349,000. Finally, AMF Tjanstepension AB raised its position in shares of United Rentals by 77.7% in the 2nd quarter. AMF Tjanstepension AB now owns 457,056 shares of the construction company’s stock valued at $295,626,000 after purchasing an additional 199,810 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

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.