United Rentals, Inc. (NYSE:URI) to Issue Dividend Increase – $1.79 Per Share

United Rentals, Inc. (NYSE:URI) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Shareholders of record on Wednesday, February 12th will be paid a dividend of 1.79 per share by the construction company on Wednesday, February 26th. This represents a $7.16 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Wednesday, February 12th. This is an increase from United Rentals’s previous quarterly dividend of $1.63.

United Rentals has a dividend payout ratio of 12.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Rentals to earn $50.44 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 12.9%.

United Rentals Stock Performance

Shares of United Rentals stock opened at $774.50 on Friday. The firm’s fifty day simple moving average is $766.58 and its 200-day simple moving average is $768.75. United Rentals has a 12 month low of $596.48 and a 12 month high of $896.98. The stock has a market capitalization of $50.82 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.68 and a beta of 1.69. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.77.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.51%. As a group, equities analysts forecast that United Rentals will post 46.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup decreased their price objective on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Robert W. Baird upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a report on Tuesday, January 14th. Truist Financial reduced their price objective on United Rentals from $965.00 to $963.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Baird R W raised United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Barclays increased their price objective on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $813.73.

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.