United Rentals (NYSE:URI) Reaches New 12-Month Low – Here’s Why

United Rentals, Inc. (NYSE:URI)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $593.85 and last traded at $604.20, with a volume of 47412 shares changing hands. The stock had previously closed at $617.52.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Truist Financial restated a “buy” rating and set a $956.00 target price (down from $963.00) on shares of United Rentals in a research note on Friday, January 31st. Citigroup dropped their target price on United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI reduced their price target on United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, United Rentals currently has a consensus rating of “Moderate Buy” and an average target price of $829.00.

United Rentals Stock Performance

The company has a 50-day moving average of $719.38 and a 200-day moving average of $767.93. The firm has a market capitalization of $39.00 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.42.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. On average, equities research analysts forecast that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.79 dividend. This is an increase from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, February 12th. United Rentals’s payout ratio is presently 18.48%.

Insider Transactions at United Rentals

In related news, CFO William E. Grace sold 1,100 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. This represents a 13.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On United Rentals

Several hedge funds and other institutional investors have recently modified their holdings of URI. Rialto Wealth Management LLC bought a new position in United Rentals in the 4th quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in United Rentals in the 4th quarter worth approximately $26,000. Murphy & Mullick Capital Management Corp acquired a new stake in United Rentals in the 4th quarter valued at approximately $27,000. Meeder Asset Management Inc. increased its position in United Rentals by 241.7% in the 4th quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company’s stock valued at $29,000 after acquiring an additional 29 shares during the period. Finally, Carmichael Hill & Associates Inc. raised its stake in United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 96.26% 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.