United Rentals’ (URI) “Market Perform” Rating Reiterated at Oppenheimer

Oppenheimer reiterated their market perform rating on shares of United Rentals (NYSE:URI) in a research note released on Monday morning, Benzinga reports.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company lifted their target price on United Rentals from $630.00 to $710.00 and gave the company an overweight rating in a research report on Friday, January 26th. Truist Financial increased their target price on shares of United Rentals from $793.00 to $796.00 and gave the stock a buy rating in a report on Monday. Evercore ISI boosted their price target on shares of United Rentals from $575.00 to $740.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. The Goldman Sachs Group increased their price objective on United Rentals from $718.00 to $790.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, BNP Paribas reissued an underperform rating and set a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $600.79.

United Rentals Stock Performance

Shares of URI stock opened at $653.76 on Monday. United Rentals has a one year low of $325.15 and a one year high of $732.37. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The firm’s 50 day moving average price is $682.90 and its 200-day moving average price is $583.96. The firm has a market cap of $43.53 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.33 and a beta of 1.84.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the firm earned $7.95 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that United Rentals will post 43.39 EPS for the current year.

United Rentals declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

United Rentals Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Matthew John Flannery sold 8,379 shares of United Rentals stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 can be accessed through the SEC website. Also, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at approximately $4,145,485.26. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Institutional Trading of United Rentals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Schear Investment Advisers LLC acquired a new position in United Rentals in the first quarter valued at $986,000. Resonant Capital Advisors LLC acquired a new stake in shares of United Rentals during the first quarter worth about $323,000. Janney Montgomery Scott LLC grew its holdings in shares of United Rentals by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 24,058 shares of the construction company’s stock worth $17,349,000 after buying an additional 594 shares during the last quarter. Oak Ridge Investments LLC increased its position in United Rentals by 4.9% in the 1st quarter. Oak Ridge Investments LLC now owns 6,102 shares of the construction company’s stock valued at $4,400,000 after acquiring an additional 286 shares during the period. Finally, Mission Wealth Management LP purchased a new stake in United Rentals during the 1st quarter valued at approximately $7,372,000. 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.