Bank of Montreal Can Purchases 7,278 Shares of United Rentals, Inc. $URI

Bank of Montreal Can grew its holdings in shares of United Rentals, Inc. (NYSE:URI) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,507 shares of the construction company’s stock after acquiring an additional 7,278 shares during the period. Bank of Montreal Can owned 0.18% of United Rentals worth $109,316,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in URI. Salomon & Ludwin LLC increased its stake in shares of United Rentals by 650.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 30 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in United Rentals during the third quarter worth $29,000. Cedar Mountain Advisors LLC bought a new position in United Rentals during the third quarter worth $32,000. Loomis Sayles & Co. L P acquired a new stake in United Rentals in the second quarter worth $28,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in United Rentals in the third quarter worth $40,000. 96.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael D. Durand sold 2,490 shares of United Rentals stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the transaction, the executive vice president owned 7,458 shares of the company’s stock, valued at $5,900,322.12. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William E. Grace sold 1,498 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $790.89, for a total transaction of $1,184,753.22. Following the completion of the sale, the executive vice president owned 6,872 shares of the company’s stock, valued at approximately $5,434,996.08. The trade was a 17.90% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is owned by company insiders.

United Rentals Stock Up 0.6%

United Rentals stock opened at $780.64 on Thursday. United Rentals, Inc. has a 1-year low of $525.91 and a 1-year high of $1,021.47. The firm has a market capitalization of $49.18 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.25 and a beta of 1.66. The firm’s fifty day moving average price is $871.41 and its two-hundred day moving average price is $883.86. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.41.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, January 28th. The construction company reported $11.09 EPS for the quarter, missing the consensus estimate of $11.86 by ($0.77). The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.24 billion. United Rentals had a return on equity of 30.35% and a net margin of 15.49%.The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $11.59 earnings per share. On average, equities research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals announced that its board has approved a stock buyback plan on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a $1.97 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.79. This represents a $7.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, February 11th. United Rentals’s dividend payout ratio is 20.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on URI shares. UBS Group upgraded shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 price objective on the stock in a report on Sunday, January 4th. Sanford C. Bernstein set a $965.00 target price on United Rentals in a research note on Friday, January 30th. KeyCorp set a $950.00 target price on United Rentals in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of United Rentals in a research note on Wednesday, January 21st. Finally, Truist Financial set a $972.00 price target on United Rentals in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, United Rentals has an average rating of “Moderate Buy” and an average target price of $925.59.

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.