United Rentals, Inc. (URI) to Issue Quarterly Dividend of $1.63 on May 22nd

United Rentals, Inc. (NYSE:URI) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 1.63 per share by the construction company on Wednesday, May 22nd. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, May 7th.

United Rentals has a payout ratio of 13.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect United Rentals to earn $47.04 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 13.9%.

United Rentals Stock Up 0.3 %

Shares of URI stock opened at $666.66 on Friday. United Rentals has a 12-month low of $325.15 and a 12-month high of $732.37. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The firm has a fifty day moving average of $683.37 and a 200-day moving average of $586.57. The company has a market capitalization 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.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.35 by $0.80. The firm had revenue of $3.49 billion during 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 company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.95 EPS. As a group, equities research analysts predict that United Rentals will post 43.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the sale, the chief executive officer now owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the transaction, the chief executive officer now owns 103,400 shares in the company, valued at approximately $72,341,742. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO William E. Grace sold 775 shares of the firm’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 disclosure for this sale can be found here. In the last three months, insiders have sold 9,713 shares of company stock valued at $6,747,384. 0.53% of the stock is owned by insiders.

United Rentals announced that its board has approved a stock buyback plan on Wednesday, January 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

URI has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on shares of United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a report on Friday, January 26th. Barclays boosted their price target on shares of United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 26th. Morgan Stanley assumed coverage on United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 price objective for the company. Oppenheimer reiterated a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Finally, Truist Financial raised their price target on United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $600.79.

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.