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

Oppenheimer reissued their market perform rating on shares of United Rentals (NYSE:URI) in a research note published on Monday, Benzinga reports.

A number of other analysts have also weighed in on URI. Truist Financial upped their price objective on shares of United Rentals from $793.00 to $796.00 and gave the stock a buy rating in a research note on Monday. Barclays increased their price objective on shares of United Rentals from $325.00 to $400.00 and gave the company an underweight rating in a research note on Friday, January 26th. Wells Fargo & Company boosted their price objective on shares of United Rentals from $630.00 to $710.00 and gave the stock an overweight rating in a research note on Friday, January 26th. Stifel Nicolaus upped their target price on United Rentals from $720.00 to $750.00 and gave the stock a buy rating in a report on Friday. Finally, The Goldman Sachs Group lifted their price target on United Rentals from $718.00 to $790.00 and gave the company a buy rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, United Rentals currently has an average rating of Hold and a consensus target price of $600.79.

United Rentals Stock Performance

United Rentals stock opened at $712.62 on Monday. United Rentals has a fifty-two week low of $325.15 and a fifty-two week high of $732.37. The company has a market capitalization of $47.45 billion, a PE ratio of 19.30, a P/E/G ratio of 2.10 and a beta of 1.84. The company has a 50 day moving average price of $682.42 and a 200-day moving average price of $582.31. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same period in the previous year, the company posted $7.95 EPS. United Rentals’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that United Rentals will post 43.54 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, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, May 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.91%. United Rentals’s payout ratio is 17.66%.

United Rentals declared that its Board of Directors has approved a stock 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 repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other United Rentals news, CFO William E. Grace sold 775 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On United Rentals

A number of large investors have recently made changes to their positions in URI. Hoylecohen LLC lifted its position in United Rentals by 1.4% during the 4th quarter. Hoylecohen LLC now owns 1,163 shares of the construction company’s stock worth $667,000 after acquiring an additional 16 shares during the period. Ballentine Partners LLC lifted its holdings in shares of United Rentals by 2.1% during the fourth quarter. Ballentine Partners LLC now owns 889 shares of the construction company’s stock worth $510,000 after purchasing an additional 18 shares during the period. DGS Capital Management LLC boosted its position in United Rentals by 1.3% in the fourth quarter. DGS Capital Management LLC now owns 1,441 shares of the construction company’s stock valued at $827,000 after buying an additional 18 shares during the last quarter. Oak Ridge Investments LLC increased its holdings in United Rentals by 0.3% in the 4th quarter. Oak Ridge Investments LLC now owns 5,816 shares of the construction company’s stock worth $3,335,000 after buying an additional 20 shares during the period. Finally, Caprock Group LLC increased its holdings in United Rentals by 2.3% in the 4th quarter. Caprock Group LLC now owns 900 shares of the construction company’s stock worth $516,000 after buying an additional 20 shares during the period. 96.26% of the stock is owned by hedge funds and other 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.