United Rentals (NYSE:URI) Shares Break Above 50-Day Moving Average - Here's What Happened

Key Points

• United Rentals shares rose 6.9% and moved above their 50-day moving average of $1,055.98, trading as high as $1,145.87 before last changing hands at $1,128.51.
• The company reported quarterly earnings of $15.55 per share, beating the $13.97 consensus estimate; revenue of $4.89 billion was up 15.7% year over year and also exceeded expectations.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $1,238.53. United Rentals also announced a quarterly dividend of $1.97 per share, a 0.7% yield.

United Rentals, Inc. (NYSE:URI - Get Free Report) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $1,055.98 and traded as high as $1,145.87. United Rentals shares last traded at $1,128.51, with a volume of 464,820 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on URI shares. Bank of America reiterated a "buy" rating and issued a $1,050.00 price target (down from $1,079.00) on shares of United Rentals in a report on Thursday, October 22nd. Truist Financial upped their price objective on shares of United Rentals from $1,395.00 to $1,450.00 and gave the company a "buy" rating in a report on Friday, October 23rd. Barclays upped their price objective on shares of United Rentals from $715.00 to $950.00 and gave the company an "underweight" rating in a report on Friday, July 24th. Royal Bank Of Canada increased their price objective on shares of United Rentals from $1,323.00 to $1,392.00 and gave the stock an "outperform" rating in a research note on Friday, October 23rd. Finally, Wall Street Zen raised shares of United Rentals from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,238.53.

United Rentals Stock Up 6.9%

The stock has a market cap of $69.88 billion, a PE ratio of 24.80, a P/E/G ratio of 1.57 and a beta of 1.82. The business has a 50 day moving average price of $1,055.98 and a 200 day moving average price of $976.43. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.35.

United Rentals (NYSE:URI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, beating the consensus estimate of $13.97 by $1.58. United Rentals had a return on equity of 33.47% and a net margin of 16.33%. The company had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.71 billion. During the same period last year, the business earned $11.70 earnings per share. United Rentals's quarterly revenue was up 15.7% on a year-over-year basis. Equities research analysts expect that United Rentals, Inc. will post 51.51 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be paid a $1.97 dividend. This represents a $7.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, November 10th. United Rentals's payout ratio is currently 17.32%.

Institutional Trading of United Rentals

A number of hedge funds have recently added to or reduced their stakes in URI. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of United Rentals in the second quarter worth about $29,000. MidFirst Bank purchased a new stake in shares of United Rentals during the 2nd quarter worth about $31,000. Bell Investment Advisors Inc purchased a new stake in shares of United Rentals during the 2nd quarter worth about $40,000. Laurel Wealth Advisors LLC acquired a new stake in shares of United Rentals during the 3rd quarter valued at about $40,000. Finally, Frazier Financial Advisors LLC grew its position in shares of United Rentals by 33.3% during the 1st quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company's stock valued at $41,000 after acquiring an additional 14 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.

About United Rentals

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