United Rentals, Inc. (NYSE:URI – Get Free Report) announced a quarterly dividend on Wednesday, January 24th, RTT News reports. Shareholders of record on Wednesday, February 14th will be given a dividend of 1.63 per share by the construction company on Wednesday, February 28th. This represents a $6.52 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, February 13th. This is an increase from United Rentals’s previous quarterly dividend of $1.48.
United Rentals has a dividend payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Rentals to earn $45.67 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 14.3%.
United Rentals Trading Up 0.5 %
NYSE URI opened at $653.85 on Monday. The firm has a market capitalization of $43.93 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.43 and a beta of 1.84. United Rentals has a one year low of $325.15 and a one year high of $658.86. The company has a 50-day simple moving average of $573.14 and a 200-day simple moving average of $494.71. 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 declared that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Citigroup boosted their price target on United Rentals from $490.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Morgan Stanley started coverage on shares of United Rentals in a research note on Monday, January 8th. They set an “equal weight” rating and a $500.00 target price on the stock. Stifel Nicolaus upped their price target on shares of United Rentals from $494.00 to $591.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Wells Fargo & Company raised their price objective on shares of United Rentals from $630.00 to $710.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, The Goldman Sachs Group upped their target price on United Rentals from $510.00 to $718.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $542.31.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Creative Planning raised its position in shares of United Rentals by 0.5% during the third quarter. Creative Planning now owns 10,617 shares of the construction company’s stock worth $4,720,000 after acquiring an additional 53 shares during the last quarter. Townsquare Capital LLC boosted its position in shares of United Rentals by 12.7% in the 3rd quarter. Townsquare Capital LLC now owns 950 shares of the construction company’s stock worth $422,000 after purchasing an additional 107 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in United Rentals by 491.1% in the second quarter. Orion Portfolio Solutions LLC now owns 5,639 shares of the construction company’s stock valued at $2,511,000 after purchasing an additional 4,685 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in United Rentals by 2.1% in the second quarter. Nuveen Asset Management LLC now owns 477,353 shares of the construction company’s stock valued at $212,599,000 after buying an additional 9,851 shares during the period. Finally, CreativeOne Wealth LLC boosted its holdings in United Rentals by 38.0% during the second quarter. CreativeOne Wealth LLC now owns 2,245 shares of the construction company’s stock worth $1,000,000 after buying an additional 618 shares during the last quarter. Institutional investors and hedge funds own 89.03% of the company’s stock.
About United Rentals
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.
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