Argus Issues Positive Forecast for United Rentals (NYSE:URI) Stock Price

United Rentals (NYSE:URI) had its price target boosted by Argus from $840.00 to $880.00 in a report issued on Wednesday morning,Benzinga reports. Argus currently has a buy rating on the construction company’s stock.

Other research analysts also recently issued reports about the company. Barclays lifted their price objective on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Citigroup increased their price objective on United Rentals from $930.00 to $955.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Evercore ISI upped their target price on shares of United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Truist Financial lifted their price target on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $751.67.

United Rentals Stock Performance

NYSE URI opened at $849.03 on Wednesday. The business has a 50 day moving average price of $819.40 and a 200 day moving average price of $731.57. The company has a market capitalization of $55.71 billion, a P/E ratio of 22.17, a PEG ratio of 1.93 and a beta of 1.68. United Rentals has a 1-year low of $454.71 and a 1-year high of $896.98. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $11.73 EPS. Sell-side analysts expect that United Rentals will post 43.46 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $1.63 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.77%. United Rentals’s dividend payout ratio (DPR) is 17.03%.

Insider Transactions at United Rentals

In related news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in shares of United Rentals by 82,462.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after buying an additional 1,604,715 shares during the period. Capital International Investors purchased a new stake in shares of United Rentals during the first quarter valued at approximately $332,349,000. AMF Tjanstepension AB lifted its position in shares of United Rentals by 77.7% during the second 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 in the last quarter. Marshall Wace LLP grew its holdings in United Rentals by 259.3% during 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 in the last quarter. Finally, AGF Management Ltd. grew its holdings in United Rentals by 4,778.7% during the 2nd quarter. AGF Management Ltd. now owns 103,672 shares of the construction company’s stock valued at $67,048,000 after purchasing an additional 101,547 shares in the last quarter. Institutional investors and hedge funds 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.