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

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

United Rentals has a dividend payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.9 %

NYSE:URI traded down $6.13 during mid-day trading on Wednesday, reaching $655.19. The stock had a trading volume of 630,128 shares, compared to its average volume of 582,337. The company has a market capitalization of $44.01 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.18 and a beta of 1.84. United Rentals has a 1-year low of $325.15 and a 1-year high of $732.37. The stock’s 50 day simple moving average is $679.75 and its two-hundred day simple moving average is $575.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.81 and a quick ratio of 0.75.

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

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

Analyst Ratings Changes

URI has been the subject of a number of research reports. Evercore ISI lifted their target price on United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Robert W. Baird lifted their target price on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. 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 note on Friday, January 26th. Morgan Stanley initiated coverage on United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price objective for the company. Finally, Truist Financial initiated coverage on United Rentals in a research report on Thursday, March 14th. They set a “buy” rating and a $793.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, United Rentals has a consensus rating of “Hold” and an average target price of $589.21.

Insider Buying and Selling

In related news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total transaction of $508,105.50. Following the sale, the chief financial officer now owns 6,323 shares of the company’s stock, valued at $4,145,485.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.49% of the stock is owned by corporate insiders.

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.