Citigroup Cuts United Rentals (NYSE:URI) Price Target to $950.00

United Rentals (NYSE:URI) had its target price decreased by Citigroup from $1,090.00 to $950.00 in a research note issued to investors on Monday,Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

URI has been the subject of a number of other reports. Truist Financial set a $972.00 price target on shares of United Rentals in a research note on Friday, January 30th. UBS Group raised United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a report on Sunday, January 4th. Wells Fargo & Company upped their target price on United Rentals from $995.00 to $1,071.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Sanford C. Bernstein set a $965.00 price target on United Rentals in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of United Rentals in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $925.59.

United Rentals Trading Up 6.9%

Shares of URI stock opened at $847.59 on Monday. United Rentals has a 1 year low of $525.91 and a 1 year high of $1,021.47. The firm has a market capitalization of $53.40 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.26 and a beta of 1.70. The stock has a fifty day moving average of $849.25 and a two-hundred day moving average of $887.87. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $11.09 earnings per share for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77). The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.24 billion. United Rentals had a net margin of 15.49% and a return on equity of 30.35%. United Rentals’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $11.59 earnings per share. As a group, research analysts expect that United Rentals will post 44.8 EPS for the current year.

United Rentals declared that its board has authorized a share buyback plan on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the construction company to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $1.97 per share. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, February 11th. United Rentals’s dividend payout ratio (DPR) is currently 18.51%.

Insiders Place Their Bets

In related news, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $791.14, for a total value of $1,969,938.60. Following the transaction, the executive vice president owned 7,458 shares of the company’s stock, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its holdings in shares of United Rentals by 73.3% during the third quarter. TD Waterhouse Canada Inc. now owns 5,740 shares of the construction company’s stock worth $5,533,000 after acquiring an additional 2,428 shares in the last quarter. National Pension Service increased its position in United Rentals by 4.5% in the 3rd quarter. National Pension Service now owns 103,146 shares of the construction company’s stock worth $98,469,000 after purchasing an additional 4,415 shares during the last quarter. North Growth Management Ltd. increased its position in United Rentals by 22.2% in the 3rd quarter. North Growth Management Ltd. now owns 11,000 shares of the construction company’s stock worth $10,189,000 after purchasing an additional 2,000 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of United Rentals by 37.2% during the 3rd quarter. HB Wealth Management LLC now owns 6,608 shares of the construction company’s stock worth $6,308,000 after purchasing an additional 1,790 shares in the last quarter. Finally, Independent Advisor Alliance lifted its holdings in shares of United Rentals by 11.6% during the 3rd quarter. Independent Advisor Alliance now owns 9,108 shares of the construction company’s stock valued at $8,695,000 after buying an additional 947 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

About United Rentals

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.