United Rentals (NYSE:URI – Free Report) had its price objective boosted by JPMorgan Chase & Co. from $1,100.00 to $1,235.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.
Other equities research analysts have also issued research reports about the stock. Truist Financial upped their target price on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a report on Friday. Bank of America raised their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings lowered shares of United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the company an “outperform” rating in a research note on Thursday, April 9th. Finally, Evercore reiterated an “outperform” rating and issued a $1,101.00 price objective on shares of United Rentals in a report on Monday, May 11th. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.
Check Out Our Latest Report on United Rentals
United Rentals Stock Performance
United Rentals (NYSE:URI – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $10.47 EPS. As a group, equities research analysts expect that United Rentals will post 47.32 earnings per share for the current fiscal year.
United Rentals Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s dividend payout ratio is presently 18.92%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Core Wealth Advisors LLC acquired a new position in shares of United Rentals during the 4th quarter valued at about $28,000. MV Capital Management Inc. acquired a new stake in United Rentals during the fourth quarter worth about $28,000. Laurel Wealth Advisors LLC acquired a new stake in United Rentals during the fourth quarter worth about $32,000. Fortitude Family Office LLC raised its stake in United Rentals by 121.1% during the fourth quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock worth $34,000 after purchasing an additional 23 shares during the period. Finally, Hilton Head Capital Partners LLC purchased a new position in United Rentals during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.
United Rentals News Summary
Here are the key news stories impacting United Rentals this week:
- Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase
- Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase
- Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase
- Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase
- Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise
- Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement
United Rentals Company Profile
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.
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