United Rentals, Inc. (NYSE:URI) to Issue Quarterly Dividend of $1.63

United Rentals, Inc. (NYSE:URI - Get Free Report) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 1.63 per share by the construction company on Wednesday, May 22nd. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%.

United Rentals has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Rentals to earn $46.37 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 14.1%.

United Rentals Stock Down 0.9 %

Shares of NYSE:URI traded down $6.13 during trading on Wednesday, reaching $655.19. The stock had a trading volume of 630,128 shares, compared to its average volume of 582,337. United Rentals has a one year low of $325.15 and a one year high of $732.37. The company has a market capitalization of $44.01 billion, a P/E ratio of 18.53, a PEG ratio of 2.18 and a beta of 1.84. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The firm's 50-day simple moving average is $679.75 and its 200 day simple moving average is $575.51.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating analysts' consensus estimates of $8.39 by $0.76. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The business had revenue of $3.49 billion for the quarter, compared to analysts' expectations of $3.44 billion. During the same period last year, the business earned $7.95 EPS. The company's revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that United Rentals will post 43.13 EPS for the current fiscal year.

United Rentals announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. BNP Paribas reiterated an "underperform" rating and issued a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. Truist Financial assumed coverage on shares of United Rentals in a research note on Thursday, March 14th. They issued a "buy" rating and a $793.00 target price for the company. Robert W. Baird lifted their target price on shares of United Rentals from $322.00 to $559.00 and gave the stock an "underperform" rating in a research note on Friday, January 26th. Wells Fargo & Company lifted their price objective on shares of United Rentals from $630.00 to $710.00 and gave the company an "overweight" rating in a research note on Friday, January 26th. Finally, Morgan Stanley started coverage on shares of United Rentals in a research note on Monday, January 8th. They set an "equal weight" rating and a $500.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $589.21.

Insiders Place Their Bets

In related news, CFO William E. Grace sold 775 shares of the business's stock in a transaction 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.

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.

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