United Rentals (NYSE:URI) Reaches New 12-Month High – What’s Next?

United Rentals, Inc. (NYSE:URI)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $1,093.66 and last traded at $1,090.3550, with a volume of 90307 shares. The stock had previously closed at $1,067.77.

Wall Street Analyst Weigh In

A number of research firms recently commented on URI. Citigroup raised their price objective on shares of United Rentals from $950.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Barclays raised their price objective on shares of United Rentals from $600.00 to $715.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,030.00 price objective on shares of United Rentals in a research note on Friday, April 24th. Truist Financial set a $1,209.00 price objective on shares of United Rentals in a research note on Friday, April 24th. Finally, KeyCorp lifted their target price on shares of United Rentals from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,013.63.

United Rentals Stock Up 2.0%

The business’s 50 day simple moving average is $885.82 and its 200-day simple moving average is $852.71. The company has a market cap of $68.24 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.70 and a beta of 1.81. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 22nd. The construction company reported $9.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $8.86 EPS. Sell-side analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 13th. United Rentals’s payout ratio is presently 20.10%.

Insider Buying and Selling at United Rentals

In related news, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president directly owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. The trade was a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On United Rentals

Several institutional investors and hedge funds have recently modified their holdings of the business. Gleason Group Inc. lifted its stake in shares of United Rentals by 4.3% in the 4th quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock valued at $218,000 after purchasing an additional 11 shares during the last quarter. Bridgewater Advisors Inc. raised its holdings in United Rentals by 1.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock worth $783,000 after acquiring an additional 11 shares during the period. PFG Investments LLC raised its holdings in United Rentals by 0.9% in the 1st quarter. PFG Investments LLC now owns 1,172 shares of the construction company’s stock worth $854,000 after acquiring an additional 11 shares during the period. Great Valley Advisor Group Inc. raised its holdings in United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after acquiring an additional 11 shares during the period. Finally, Fearless Solutions LLC dba Best Invest raised its holdings in United Rentals by 2.2% in the 4th quarter. Fearless Solutions LLC dba Best Invest now owns 554 shares of the construction company’s stock worth $448,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.