United Rentals (NYSE:URI) Reaches New 1-Year Low – Here’s What Happened

United Rentals, Inc. (NYSE:URI) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $593.85 and last traded at $604.20, with a volume of 47412 shares changing hands. The stock had previously closed at $617.52.

Wall Street Analysts Forecast Growth

URI has been the topic of several research analyst reports. Truist Financial reissued a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Robert W. Baird raised United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price objective on United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Evercore ISI cut their price objective on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, United Rentals has an average rating of “Moderate Buy” and a consensus price target of $829.00.

United Rentals Price Performance

The stock has a 50-day moving average of $719.38 and a two-hundred day moving average of $767.93. The firm has a market cap of $39.00 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last announced its earnings results on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. On average, analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 1.20%. This is a boost from United Rentals’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s payout ratio is presently 18.48%.

Insider Buying and Selling at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total value of $701,910.00. Following the transaction, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company’s stock.

Institutional Trading of United Rentals

Several institutional investors have recently made changes to their positions in URI. GHP Investment Advisors Inc. lifted its position in United Rentals by 6.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 14,855 shares of the construction company’s stock worth $10,464,000 after buying an additional 877 shares in the last quarter. Retireful LLC acquired a new position in shares of United Rentals in the third quarter worth $697,000. Mizuho Securities USA LLC raised its holdings in shares of United Rentals by 1,067.5% during the third quarter. Mizuho Securities USA LLC now owns 59,879 shares of the construction company’s stock worth $48,486,000 after acquiring an additional 54,750 shares in the last quarter. Fiduciary Alliance LLC boosted its position in United Rentals by 196.5% during the fourth quarter. Fiduciary Alliance LLC now owns 1,420 shares of the construction company’s stock valued at $1,000,000 after purchasing an additional 941 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in United Rentals by 7.6% in the fourth quarter. Nordea Investment Management AB now owns 732,954 shares of the construction company’s stock valued at $517,018,000 after purchasing an additional 52,037 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

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.