United Rentals, Inc. (NYSE:URI) to Issue Quarterly Dividend of $1.97

United Rentals, Inc. (NYSE:URI) announced a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of 1.97 per share by the construction company on Wednesday, August 26th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 12th.

United Rentals has a payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Analysts expect United Rentals to earn $53.16 per share next year, which means the company should continue to be able to cover its $7.88 annual dividend with an expected future payout ratio of 14.8%.

United Rentals Trading Up 2.0%

United Rentals stock opened at $1,034.28 on Thursday. The firm has a 50-day moving average of $1,045.86 and a 200-day moving average of $915.44. United Rentals has a one year low of $701.59 and a one year high of $1,143.69. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The company has a market cap of $64.80 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 1.62 and a beta of 1.79.

United Rentals (NYSE:URI) last released its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 30.56% and a net margin of 15.32%.The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the business earned $10.47 earnings per share. United Rentals’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts expect that United Rentals will post 46.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthew John Flannery sold 22,768 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total transaction of $22,426,024.64. Following the transaction, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at approximately $98,478,300.40. The trade was a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joli L. Gross sold 306 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the transaction, the senior vice president directly owned 5,738 shares in the company, valued at $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,088 shares of company stock worth $25,628,877 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On United Rentals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in URI. Norges Bank acquired a new stake in United Rentals during the fourth quarter worth approximately $978,017,000. Corient Private Wealth LLC boosted its holdings in shares of United Rentals by 1,667.4% during the fourth quarter. Corient Private Wealth LLC now owns 343,965 shares of the construction company’s stock worth $278,378,000 after acquiring an additional 324,503 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of United Rentals by 3,459.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 196,688 shares of the construction company’s stock valued at $159,184,000 after purchasing an additional 191,162 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of United Rentals in the fourth quarter valued at approximately $102,945,000. Finally, Victory Capital Management Inc. increased its stake in shares of United Rentals by 103.7% during the fourth quarter. Victory Capital Management Inc. now owns 231,018 shares of the construction company’s stock worth $186,967,000 after purchasing an additional 117,584 shares during the period. 96.26% of the stock is owned by institutional investors.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.