The Goldman Sachs Group Boosts United Rentals (NYSE:URI) Price Target to $790.00

United Rentals (NYSE:URI) had its price target raised by The Goldman Sachs Group from $718.00 to $790.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other research firms have also weighed in on URI. Morgan Stanley assumed coverage on 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. Robert W. Baird boosted their price target on shares of United Rentals from $322.00 to $559.00 and gave the company an underperform rating in a report on Friday, January 26th. Evercore ISI lifted their price objective on shares of United Rentals from $575.00 to $740.00 and gave the stock an outperform rating in a research report on Tuesday, February 20th. BNP Paribas reissued an underperform rating and set a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. Finally, Stifel Nicolaus raised their target price on United Rentals from $494.00 to $591.00 and gave the stock a buy rating in a research report on Tuesday, December 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, United Rentals has an average rating of Hold and a consensus price target of $589.21.

United Rentals Stock Performance

URI stock opened at $632.88 on Tuesday. The stock’s fifty day moving average is $680.37 and its two-hundred day moving average is $569.06. The stock has a market capitalization of $42.51 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.27 and a beta of 1.84. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 0.81. United Rentals has a 1 year low of $325.15 and a 1 year high of $732.37.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, January 24th. The construction company reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.85 by $0.41. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the prior year, the business posted $9.74 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts predict that United Rentals will post 43.13 EPS for the current year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. This is an increase from United Rentals’s previous quarterly dividend of $1.48. United Rentals’s dividend payout ratio is currently 18.44%.

United Rentals announced that its Board of Directors has initiated a share buyback program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO William E. Grace sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its position in United Rentals by 6.4% in the third quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock worth $9,588,000 after purchasing an additional 1,304 shares during the period. Louisiana State Employees Retirement System acquired a new position in United Rentals in the fourth quarter worth about $2,351,000. Graybill Wealth Management LTD. boosted its holdings in United Rentals by 0.6% during the third quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock valued at $4,218,000 after purchasing an additional 58 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of United Rentals by 55.5% in the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock valued at $3,677,000 after purchasing an additional 2,289 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of United Rentals in the 4th quarter worth approximately $22,529,000. Institutional investors own 96.26% of the company’s stock.

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.