Truist Financial Raises United Rentals (NYSE:URI) Price Target to $796.00

United Rentals (NYSE:URI - Free Report) had its target price upped by Truist Financial from $793.00 to $796.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the construction company's stock.

Several other research analysts also recently weighed in on URI. Evercore ISI upped their target price on shares of United Rentals from $575.00 to $740.00 and gave the stock an outperform rating in a report on Tuesday, February 20th. Barclays upped their target price on shares of United Rentals from $325.00 to $400.00 and gave the stock an underweight rating in a report on Friday, January 26th. Robert W. Baird upped their target price on shares of United Rentals from $322.00 to $559.00 and gave the stock an underperform rating in a report on Friday, January 26th. Wells Fargo & Company upped their target price on shares of United Rentals from $630.00 to $710.00 and gave the stock an overweight rating in a report on Friday, January 26th. Finally, BNP Paribas reaffirmed an underperform rating and issued a $485.00 target price on shares of United Rentals in a report on Friday, January 5th. Three 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, the company presently has a consensus rating of Hold and an average price target of $600.79.

United Rentals Stock Performance

Shares of NYSE:URI traded up $21.82 during midday trading on Monday, hitting $712.62. The company had a trading volume of 604,917 shares, compared to its average volume of 588,248. 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 market cap of $47.45 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 2.10 and a beta of 1.84. United Rentals has a 12-month low of $325.15 and a 12-month high of $732.37. The company has a fifty day moving average of $682.42 and a two-hundred day moving average of $582.31.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping the consensus estimate of $8.35 by $0.80. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. United Rentals's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $7.95 EPS. On average, equities research analysts expect that United Rentals will post 43.54 EPS for the current fiscal year.

United Rentals announced that its board has authorized a share buyback program on Wednesday, January 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Tuesday, May 7th. United Rentals's dividend payout ratio (DPR) is currently 17.66%.

Insider Buying and Selling

In related news, CFO William E. Grace sold 775 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $655.62, for a total value of $508,105.50. Following the sale, the chief financial officer now directly owns 6,323 shares of the company's stock, valued at approximately $4,145,485.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On United Rentals

Institutional investors have recently modified their holdings of the stock. First Financial Corp IN purchased a new position in shares of United Rentals during the first quarter worth approximately $25,000. Rise Advisors LLC purchased a new position in United Rentals during the first quarter valued at approximately $28,000. Riverview Trust Co purchased a new position in United Rentals during the first quarter valued at approximately $31,000. AdvisorNet Financial Inc increased its holdings in United Rentals by 71.4% during the fourth quarter. AdvisorNet Financial Inc now owns 48 shares of the construction company's stock valued at $28,000 after buying an additional 20 shares during the period. Finally, PFS Partners LLC purchased a new position in United Rentals during the first quarter valued at approximately $36,000. 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.