United Rentals (NYSE:URI) Reaches New 52-Week High – What’s Next?

United Rentals, Inc. (NYSE:URI)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $1,177.93 and last traded at $1,174.2750, with a volume of 163537 shares changing hands. The stock had previously closed at $1,162.66.

Analysts Set New Price Targets

Several brokerages have recently commented on URI. Weiss Ratings upgraded United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Evercore reaffirmed an “outperform” rating and set a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Bank of America lifted their price objective on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price for the company in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,246.19.

United Rentals Stock Performance

The company has a market capitalization of $72.35 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.80. The business has a 50 day moving average of $1,085.32 and a 200 day moving average of $933.12. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.47 EPS. On average, sell-side analysts predict that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s payout ratio is currently 18.92%.

Insider Transactions at United Rentals

In related news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On United Rentals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bridgewater Advisors Inc. lifted its holdings in shares of United Rentals by 1.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock valued at $783,000 after acquiring an additional 11 shares during the last quarter. PFG Investments LLC increased its stake in United Rentals by 0.9% during the first 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 last quarter. CoreCap Advisors LLC increased its stake in United Rentals by 16.9% during the second quarter. CoreCap Advisors LLC now owns 76 shares of the construction company’s stock worth $86,000 after acquiring an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. raised its position in United Rentals by 2.9% during the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock valued at $292,000 after purchasing an additional 11 shares during the period. Finally, Legacy Financial Advisors Inc. raised its position in United Rentals by 3.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 322 shares of the construction company’s stock valued at $260,000 after purchasing an additional 12 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

United Rentals Company Profile

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.