United Rentals’ (URI) Market Perform Rating Reaffirmed at Oppenheimer

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

Several other brokerages also recently commented on URI. The Goldman Sachs Group upped their target price on United Rentals from $718.00 to $790.00 and gave the company a buy rating in a report on Tuesday, April 16th. Morgan Stanley initiated coverage on shares of United Rentals in a research note on Monday, January 8th. They set an equal weight rating and a $500.00 target price on the stock. Barclays increased their target price on United Rentals from $325.00 to $400.00 and gave the company an underweight rating in a report on Friday, January 26th. Truist Financial lifted their price target on United Rentals from $793.00 to $796.00 and gave the company a buy rating in a report on Monday. Finally, Wells Fargo & Company increased their price objective on United Rentals from $630.00 to $710.00 and gave the stock an overweight rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $600.79.

United Rentals Price Performance

Shares of United Rentals stock opened at $653.76 on Monday. United Rentals has a 52 week low of $325.15 and a 52 week high of $732.37. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. The stock has a market cap of $43.53 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 2.33 and a beta of 1.84. The company’s 50-day moving average price is $682.90 and its two-hundred day moving average price is $583.96.

United Rentals (NYSE:URI) last released its 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 net margin of 17.31% and a return on equity of 36.44%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the firm earned $7.95 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that United Rentals will post 43.39 EPS for the current fiscal year.

United Rentals announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

United Rentals Dividend Announcement

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

Insider Buying and Selling

In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of United Rentals

A number of institutional investors and hedge funds have recently modified their holdings of the company. OFI Invest Asset Management bought a new position in United Rentals in the third quarter worth $25,000. First Financial Corp IN acquired a new position in shares of United Rentals in the 1st quarter valued at $25,000. AdvisorNet Financial Inc lifted its holdings in shares of United Rentals by 71.4% during the 4th quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company’s stock worth $28,000 after acquiring an additional 20 shares during the period. Rise Advisors LLC bought a new position in shares of United Rentals during the 1st quarter worth about $28,000. Finally, NBC Securities Inc. acquired a new stake in shares of United Rentals during the 3rd quarter valued at about $29,000. 96.26% of the stock is currently owned by institutional investors.

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.