United Rentals, Inc. (NYSE:URI) to Issue Quarterly Dividend of $1.63

United Rentals, Inc. (NYSE:URIGet Free Report) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors of record on Wednesday, May 8th will be paid a dividend of 1.63 per share by the construction company on Wednesday, May 22nd. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%.

United Rentals has a dividend payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect United Rentals to earn $46.37 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 14.1%.

United Rentals Stock Performance

Shares of United Rentals stock opened at $655.07 on Thursday. United Rentals has a one year low of $325.15 and a one year high of $732.37. The company has a market capitalization of $44.00 billion, a PE ratio of 18.53, a P/E/G ratio of 2.29 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. The company has a 50-day simple moving average of $679.77 and a two-hundred day simple moving average of $576.07.

United Rentals (NYSE:URIGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $9.15 EPS for the quarter, topping the consensus estimate of $8.39 by $0.76. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. United Rentals’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.95 EPS. Research analysts expect that United Rentals will post 43.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on URI. BNP Paribas restated an “underperform” rating and set a $485.00 target price on shares of United Rentals in a research note on Friday, January 5th. Evercore ISI upped their price objective on shares of United Rentals from $575.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Wells Fargo & Company lifted their target price on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Morgan Stanley began coverage on shares of United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 target price on the stock. Finally, Barclays raised their price target on shares of United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, United Rentals has an average rating of “Hold” and a consensus target price of $589.21.

Read Our Latest Research Report on URI

United Rentals announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at United Rentals

In related news, CFO William E. Grace sold 775 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the completion of the transaction, the chief financial officer now directly owns 6,323 shares in the company, valued at $4,145,485.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

United Rentals Company Profile

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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.

Further Reading

Dividend History for United Rentals (NYSE:URI)

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