Truist Financial Cuts United Rentals (NYSE:URI) Price Target to $785.00

United Rentals (NYSE:URI) had its target price decreased by Truist Financial from $796.00 to $785.00 in a report published on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

URI has been the subject of a number of other reports. Citigroup initiated coverage on United Rentals in a research note on Wednesday, June 26th. They issued a buy rating and a $745.00 target price for the company. Stifel Nicolaus upped their price objective on United Rentals from $720.00 to $750.00 and gave the company a buy rating in a report on Friday, April 26th. Oppenheimer reissued a market perform rating on shares of United Rentals in a research note on Monday, April 29th. The Goldman Sachs Group raised their price objective on United Rentals from $718.00 to $790.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. assumed coverage on shares of United Rentals in a research report on Friday, June 7th. They issued an overweight rating and a $780.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, United Rentals currently has a consensus rating of Hold and an average price target of $637.67.

United Rentals Stock Down 3.1 %

Shares of URI opened at $633.95 on Tuesday. The stock has a 50 day moving average price of $658.39 and a 200 day moving average price of $647.40. United Rentals has a one year low of $387.01 and a one year high of $732.37. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.83 and a current ratio of 0.89. The stock has a market capitalization of $42.21 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.16 and a beta of 1.71.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $8.35 by $0.80. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $7.95 earnings per share. Equities research analysts forecast that United Rentals will post 43.61 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $6.52 annualized dividend and a yield of 1.03%. United Rentals’s payout ratio is 17.66%.

Insider Transactions at United Rentals

In other United Rentals news, CEO Matthew John Flannery sold 8,379 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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 SEC, which is available at the SEC website. In other United Rentals news, COO Michael D. Durand sold 559 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 103,400 shares in the company, valued at approximately $72,341,742. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System purchased a new position in shares of United Rentals during the fourth quarter worth about $2,351,000. Verdence Capital Advisors LLC acquired a new stake in shares of United Rentals in the 4th quarter valued at about $257,000. Nomura Holdings Inc. purchased a new position in United Rentals during the 4th quarter worth approximately $780,000. Pinnacle Associates Ltd. increased its position in United Rentals by 55.5% during the fourth quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock worth $3,677,000 after buying an additional 2,289 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in United Rentals by 46.2% in the fourth quarter. Victory Capital Management Inc. now owns 99,372 shares of the construction company’s stock valued at $56,982,000 after buying an additional 31,398 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

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.