United Rentals, Inc. (URI) to Issue Quarterly Dividend of $1.79 on May 28th

United Rentals, Inc. (NYSE:URI) declared a quarterly dividend on Wednesday, April 23rd, RTT News reports. Investors of record on Wednesday, May 14th will be given a dividend of 1.79 per share by the construction company on Wednesday, May 28th. This represents a $7.16 annualized dividend and a yield of 1.11%. The ex-dividend date is Wednesday, May 14th.

United Rentals has a dividend payout ratio of 14.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Rentals to earn $49.11 per share next year, which means the company should continue to be able to cover its $7.16 annual dividend with an expected future payout ratio of 14.6%.

United Rentals Trading Up 9.9 %

Shares of URI stock opened at $647.66 on Friday. United Rentals has a 12-month low of $525.91 and a 12-month high of $896.98. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average of $617.66 and a 200-day moving average of $728.14. The firm has a market cap of $42.31 billion, a P/E ratio of 16.71, a PEG ratio of 1.43 and a beta of 1.72.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, April 23rd. The construction company reported $8.86 earnings per share for the quarter, missing analysts’ consensus estimates of $8.92 by ($0.06). The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.61 billion. United Rentals had a net margin of 16.78% and a return on equity of 34.21%. Sell-side analysts anticipate that United Rentals will post 44.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on URI shares. Truist Financial lowered their price target on shares of United Rentals from $956.00 to $732.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Citigroup lowered their target price on shares of United Rentals from $720.00 to $650.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Baird R W upgraded shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Sanford C. Bernstein raised shares of United Rentals from an “underperform” rating to a “market perform” rating and decreased their price target for the stock from $705.00 to $666.00 in a report on Tuesday, March 25th. Finally, Bank of America dropped their price objective on United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $729.79.

Insider Activity at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction on Monday, February 24th. The shares were sold at an average price of $638.10, for a total value of $701,910.00. Following the sale, the chief financial officer now owns 6,880 shares in the company, valued at $4,390,128. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by company insiders.

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.