Citigroup Lowers United Rentals (NYSE:URI) Price Target to $835.00

United Rentals (NYSE:URI - Free Report) had its price target decreased by Citigroup from $985.00 to $835.00 in a research report report published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the construction company's stock.

Several other analysts have also recently issued reports on URI. JPMorgan Chase & Co. upped their price objective on United Rentals from $780.00 to $940.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Argus increased their target price on shares of United Rentals from $840.00 to $880.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Truist Financial boosted their price objective on shares of United Rentals from $955.00 to $965.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Bank of America raised their target price on shares of United Rentals from $800.00 to $910.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, Robert W. Baird raised United Rentals from an "underperform" rating to a "neutral" rating and set a $658.00 target price for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $805.25.

United Rentals Stock Up 5.9 %

NYSE URI traded up $40.45 during mid-day trading on Tuesday, reaching $729.60. 942,154 shares of the company's stock traded hands, compared to its average volume of 718,555. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. United Rentals has a 1-year low of $545.16 and a 1-year high of $896.98. The company has a fifty day simple moving average of $787.08 and a 200-day simple moving average of $759.44. The company has a market cap of $47.88 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.83 and a beta of 1.69.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing analysts' consensus estimates of $12.49 by ($0.69). The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $11.73 EPS. As a group, equities research analysts expect that United Rentals will post 43.46 EPS for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.89%. The ex-dividend date was Wednesday, November 13th. United Rentals's payout ratio is currently 17.03%.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now directly owns 2,044 shares of the company's stock, valued at approximately $1,682,702.56. This represents a 30.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of United Rentals

A number of hedge funds and other institutional investors have recently made changes to their positions in URI. Federated Hermes Inc. raised its holdings in United Rentals by 11.8% during the 2nd quarter. Federated Hermes Inc. now owns 23,054 shares of the construction company's stock worth $14,910,000 after buying an additional 2,438 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of United Rentals by 3.5% during the second quarter. Envestnet Asset Management Inc. now owns 85,276 shares of the construction company's stock valued at $55,151,000 after acquiring an additional 2,902 shares during the period. One Capital Management LLC purchased a new stake in shares of United Rentals in the 2nd quarter valued at approximately $358,000. WealthPLAN Partners LLC boosted its stake in United Rentals by 40.7% in the 2nd quarter. WealthPLAN Partners LLC now owns 615 shares of the construction company's stock worth $398,000 after purchasing an additional 178 shares during the period. Finally, Moors & Cabot Inc. grew its position in United Rentals by 22.4% during the 2nd quarter. Moors & Cabot Inc. now owns 17,271 shares of the construction company's stock worth $11,170,000 after purchasing an additional 3,159 shares in the last quarter. 96.26% of the stock is currently owned by 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.