United Rentals (NYSE:URI) Hits New 52-Week High – Still a Buy?

United Rentals, Inc. (NYSE:URI) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $1,179.62 and last traded at $1,178.0450, with a volume of 263,586 shares changing hands. The stock had previously closed at $1,121.90.

Analyst Ratings Changes

Several research firms have weighed in on URI. Robert W. Baird set a $1,310.00 target price on shares of United Rentals in a report on Friday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $1,170.00 price target (down from $1,235.00) on shares of United Rentals in a research note on Thursday, September 10th. Bank of America reissued a “buy” rating on shares of United Rentals in a research report on Thursday, October 22nd. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price for the company in a report on Monday, June 29th. Finally, Wall Street Zen raised shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,288.19.

United Rentals Trading Up 4.4%

The company has a market cap of $72.52 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.59 and a beta of 1.83. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.73 and a current ratio of 0.80. The firm has a fifty day moving average price of $1,044.92 and a 200 day moving average price of $965.63.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, topping analysts’ consensus estimates of $13.97 by $1.58. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.71 billion. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $11.70 earnings per share. As a group, equities analysts predict that United Rentals, Inc. will post 49.65 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be issued a dividend of $1.97 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is currently 17.32%.

Hedge Funds Weigh In On United Rentals

Large investors have recently modified their holdings of the stock. SFE Investment Counsel bought a new position in United Rentals during the 2nd quarter worth $12,765,000. Bank of America Corp DE acquired a new position in shares of United Rentals in the second quarter valued at about $944,196,000. Geneos Wealth Management Inc. grew its stake in shares of United Rentals by 9.7% in the first quarter. Geneos Wealth Management Inc. now owns 10,782 shares of the construction company’s stock valued at $7,855,000 after acquiring an additional 950 shares in the last quarter. Nwam LLC bought a new position in United Rentals during the second quarter worth about $2,346,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in United Rentals by 9.8% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,447 shares of the construction company’s stock worth $19,240,000 after acquiring an additional 2,350 shares during the period. 96.26% of the stock is owned by institutional investors.

About United Rentals

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.