Bank of America Cuts United Rentals (NYSE:URI) Price Target to $750.00

United Rentals (NYSE:URI) had its price objective reduced by Bank of America from $850.00 to $750.00 in a report published on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the construction company’s stock.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup dropped their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Truist Financial reissued a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Morgan Stanley dropped their price target on United Rentals from $775.00 to $765.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, Evercore ISI cut their price objective on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and an average price target of $815.67.

United Rentals Price Performance

Shares of United Rentals stock opened at $628.63 on Friday. The stock has a market cap of $41.05 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The stock’s fifty day moving average is $696.39 and its 200 day moving average is $757.16. United Rentals has a one year low of $585.27 and a one year high of $896.98.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. Sell-side analysts anticipate that United Rentals will post 44.8 earnings per share for the current year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.79 per share. This is a boost from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s payout ratio is presently 18.48%.

Insider Buying and Selling at United Rentals

In other United Rentals news, CFO William E. Grace sold 1,100 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total transaction of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Several hedge funds have recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new position in shares of United Rentals during the fourth quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new position in United Rentals during the 4th quarter valued at $26,000. Murphy & Mullick Capital Management Corp purchased a new position in United Rentals during the 4th quarter valued at $27,000. Meeder Asset Management Inc. increased its stake in United Rentals by 241.7% in the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock worth $29,000 after purchasing an additional 29 shares during the period. Finally, Hanson & Doremus Investment Management purchased a new stake in United Rentals in the fourth quarter worth $33,000. 96.26% of the stock is currently owned by institutional investors.

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.