Montgomery Investment Management Inc. Reduces Position in United Rentals, Inc. (NYSE:URI)

Montgomery Investment Management Inc. decreased its position in shares of United Rentals, Inc. (NYSE:URI) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,081 shares of the construction company’s stock after selling 37 shares during the period. United Rentals accounts for about 10.3% of Montgomery Investment Management Inc.’s investment portfolio, making the stock its largest holding. Montgomery Investment Management Inc. owned 0.05% of United Rentals worth $28,406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in URI. Crewe Advisors LLC bought a new position in shares of United Rentals in the first quarter valued at $27,000. RFP Financial Group LLC increased its holdings in shares of United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock valued at $27,000 after buying an additional 22 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in shares of United Rentals by 280.0% in the second quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after buying an additional 42 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of United Rentals in the second quarter valued at $45,000. Finally, Trust Co. of Vermont increased its holdings in shares of United Rentals by 6,000.0% in the third quarter. Trust Co. of Vermont now owns 61 shares of the construction company’s stock valued at $49,000 after buying an additional 60 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Trading Down 1.5 %

Shares of NYSE:URI opened at $812.50 on Monday. The stock has a market capitalization of $53.32 billion, a PE ratio of 21.22, a P/E/G ratio of 1.87 and a beta of 1.68. United Rentals, Inc. has a 1 year low of $387.01 and a 1 year high of $861.74. The firm has a fifty day moving average price of $772.68 and a 200 day moving average price of $708.43. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a return on equity of 34.73% and a net margin of 17.12%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $11.73 EPS. Analysts expect that United Rentals, Inc. will post 44.31 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.03%.

Insider Activity

In other news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $690.00, for a total transaction of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on URI shares. The Goldman Sachs Group lifted their price objective on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial lifted their price objective on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America lifted their price objective on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup lifted their price objective on shares of United Rentals from $930.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays lifted their price objective on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, United Rentals currently has an average rating of “Hold” and an average price target of $742.50.

United Rentals 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.