United Rentals, Inc. (NYSE:URI) COO Michael D. Durand Sells 559 Shares of Stock

United Rentals, Inc. (NYSE:URI) COO Michael D. Durand sold 559 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

United Rentals Price Performance

URI stock opened at $666.66 on Friday. The stock has a market cap of $44.39 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 2.17 and a beta of 1.82. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.83. The company has a 50 day simple moving average of $683.37 and a 200 day simple moving average of $586.57. United Rentals, Inc. has a 1 year low of $325.15 and a 1 year high of $732.37.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, topping the consensus estimate of $8.35 by $0.80. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $7.95 earnings per share. Research analysts anticipate that United Rentals, Inc. will post 43.52 EPS for the current fiscal year.

United Rentals Announces Dividend

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. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s payout ratio is currently 17.66%.

United Rentals announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their target price on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. BNP Paribas restated an “underperform” rating and set a $485.00 target price on shares of United Rentals in a research report on Friday, January 5th. Wells Fargo & Company lifted their price target on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Truist Financial increased their price target on United Rentals from $793.00 to $796.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, The Goldman Sachs Group lifted their price objective on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $600.79.

Institutional Trading of United Rentals

A number of institutional investors and hedge funds have recently bought and sold shares of URI. Exchange Traded Concepts LLC acquired a new position in shares of United Rentals in the third quarter worth approximately $281,000. Commonwealth Equity Services LLC lifted its position in shares of United Rentals by 1.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 44,623 shares of the construction company’s stock worth $19,838,000 after purchasing an additional 446 shares during the period. Xponance Inc. increased its position in shares of United Rentals by 0.4% during the third quarter. Xponance Inc. now owns 10,342 shares of the construction company’s stock worth $4,598,000 after buying an additional 40 shares during the period. Pinnacle Associates Ltd. raised its stake in United Rentals by 2.0% during the third quarter. Pinnacle Associates Ltd. now owns 4,124 shares of the construction company’s stock worth $1,834,000 after buying an additional 79 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in United Rentals by 4.7% in the third quarter. Raymond James & Associates now owns 113,793 shares of the construction company’s stock valued at $50,589,000 after buying an additional 5,117 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.

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.