Mount Lucas Management LP Has $1.32 Million Position in United Rentals, Inc. (NYSE:URI)

Mount Lucas Management LP lessened its stake in shares of United Rentals, Inc. (NYSE:URI) by 60.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,631 shares of the construction company’s stock after selling 2,457 shares during the quarter. Mount Lucas Management LP’s holdings in United Rentals were worth $1,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Crewe Advisors LLC acquired a new position in shares of United Rentals in the first quarter valued at approximately $27,000. RFP Financial Group LLC grew its holdings in United Rentals by 115.8% in the 2nd 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. E Fund Management Hong Kong Co. Ltd. bought a new position in United Rentals during the 3rd quarter worth $31,000. Carmichael Hill & Associates Inc. lifted its holdings in shares of United Rentals by 80.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock worth $36,000 after buying an additional 20 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its position 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 acquiring an additional 42 shares during the period. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

Shares of United Rentals stock opened at $836.00 on Friday. The company’s 50 day moving average price is $807.10 and its two-hundred day moving average price is $726.23. The firm has a market capitalization of $54.86 billion, a P/E ratio of 21.83, a P/E/G ratio of 1.96 and a beta of 1.68. 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, Inc. has a fifty-two week low of $454.71 and a fifty-two week high of $896.98.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing the consensus estimate of $12.49 by ($0.69). The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. United Rentals’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $11.73 earnings per share. On average, equities analysts forecast that United Rentals, Inc. will post 43.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.78%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.03%.

Insiders Place Their Bets

In related news, SVP Anthony S. Leopold sold 900 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares in the company, valued at $1,682,702.56. This represents a 30.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

URI has been the subject of several analyst reports. 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 note on Friday, October 25th. Robert W. Baird boosted their price target on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Truist Financial increased their price target on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Bank of America raised their price target on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. 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 stock. According to data from MarketBeat, United Rentals currently has a consensus rating of “Hold” and an average target price 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.