United Rentals, Inc. (NYSE:URI) Announces $1.63 Quarterly Dividend

United Rentals, Inc. (NYSE:URI) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 1.63 per share by the construction company on Wednesday, May 22nd. This represents a $6.52 annualized dividend and a yield of 1.00%.

United Rentals has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect United Rentals to earn $46.37 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 14.1%.

United Rentals Trading Down 0.9 %

United Rentals stock opened at $655.07 on Thursday. The stock has a market cap of $44.00 billion, a P/E ratio of 18.53, a PEG ratio of 2.29 and a beta of 1.84. United Rentals has a fifty-two week low of $325.15 and a fifty-two week high of $732.37. The firm’s fifty day moving average price is $679.77 and its 200-day moving average price is $576.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $8.39 by $0.76. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $7.95 EPS. Equities research analysts forecast that United Rentals will post 43.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 775 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by insiders.

United Rentals announced that its Board of Directors has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

URI has been the subject of a number of research reports. Morgan Stanley began coverage on shares of United Rentals in a research note on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price target for the company. BNP Paribas restated an “underperform” rating and set a $485.00 price target on shares of United Rentals in a research report on Friday, January 5th. Truist Financial initiated coverage on United Rentals in a report on Thursday, March 14th. They issued a “buy” rating and a $793.00 price objective for the company. The Goldman Sachs Group raised their price objective on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Robert W. Baird upped their target price on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, United Rentals presently has a consensus rating of “Hold” and an average target price of $589.21.

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.