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

United Rentals, Inc. (NYSE:URI) declared a quarterly dividend on Wednesday, October 23rd,RTT News reports. Stockholders of record on Wednesday, November 13th will be given a dividend of 1.63 per share by the construction company on Wednesday, November 27th. This represents a $6.52 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Wednesday, November 13th.

United Rentals has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect United Rentals to earn $46.92 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 13.9%.

United Rentals Price Performance

Shares of URI stock opened at $873.88 on Tuesday. The stock has a market cap of $57.35 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 2.04 and a beta of 1.68. The business’s fifty day moving average is $794.45 and its 200 day moving average is $721.90. United Rentals has a twelve month low of $453.23 and a twelve month high of $896.98. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing the consensus estimate of $12.49 by ($0.69). The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. United Rentals’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $11.73 earnings per share. Research analysts expect that United Rentals will post 43.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the sale, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

URI has been the topic of several analyst reports. Citigroup boosted their target price on United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays boosted their target price on United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Truist Financial boosted their target price on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America upped their price target on United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Robert W. Baird upped their price target on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $742.50.

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.