Robert W. Baird Boosts United Rentals (NYSE:URI) Price Target to $650.00

United Rentals (NYSE:URI) had its target price hoisted by Robert W. Baird from $565.00 to $650.00 in a research note published on Thursday morning. They currently have an underperform rating on the construction company’s stock.

A number of other brokerages also recently issued reports on URI. Citigroup started coverage on shares of United Rentals in a research note on Wednesday, June 26th. They set a buy rating and a $745.00 price objective on the stock. Evercore ISI lifted their price objective on shares of United Rentals from $774.00 to $795.00 and gave the company an outperform rating in a research note on Monday, August 19th. JPMorgan Chase & Co. upped their target price on United Rentals from $780.00 to $940.00 and gave the stock an overweight rating in a research note on Monday, September 23rd. The Goldman Sachs Group raised their target price on United Rentals from $790.00 to $905.00 and gave the company a buy rating in a report on Friday, July 26th. Finally, Truist Financial upped their price objective on United Rentals from $785.00 to $873.00 and gave the stock a buy rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, United Rentals currently has a consensus rating of Hold and a consensus target price of $694.46.

United Rentals Stock Up 0.0 %

NYSE URI opened at $789.52 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39. The company has a market cap of $52.57 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.84 and a beta of 1.68. The company has a 50 day moving average of $735.99 and a 200-day moving average of $695.90. United Rentals has a 1-year low of $387.01 and a 1-year high of $826.24.

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

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Wednesday, August 14th. United Rentals’s dividend payout ratio is currently 17.66%.

Insider Activity at United Rentals

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 shares were 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 directly owns 4,090 shares in the company, valued at approximately $2,822,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On United Rentals

Institutional investors have recently made changes to their positions in the stock. Capital International Investors bought a new stake in United Rentals in the first quarter valued at approximately $332,349,000. AMF Tjanstepension AB lifted 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 worth $295,626,000 after purchasing an additional 199,810 shares during the period. Marshall Wace LLP boosted its stake in shares of United Rentals by 259.3% in the 2nd quarter. Marshall Wace LLP now owns 150,152 shares of the construction company’s stock valued at $97,108,000 after purchasing an additional 108,360 shares during the last quarter. AGF Management Ltd. increased its position in shares of United Rentals by 4,778.7% during the second quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock worth $67,048,000 after buying an additional 101,547 shares during the period. Finally, Heritage Wealth Advisors raised its stake in United Rentals by 15,100.8% during the first quarter. Heritage Wealth Advisors now owns 100,781 shares of the construction company’s stock worth $72,674,000 after buying an additional 100,118 shares during the last quarter. 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.