ProShare Advisors LLC Increases Holdings in United Rentals, Inc. $URI

ProShare Advisors LLC boosted its holdings in shares of United Rentals, Inc. (NYSE:URI) by 27.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,796 shares of the construction company’s stock after purchasing an additional 2,933 shares during the period. ProShare Advisors LLC’s holdings in United Rentals were worth $11,165,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aventura Private Wealth LLC purchased a new position in United Rentals during the 4th quarter valued at about $27,000. Abich Financial Wealth Management LLC purchased a new position in United Rentals during the 3rd quarter valued at about $29,000. Board of the Pension Protection Fund purchased a new position in United Rentals during the 4th quarter valued at about $32,000. Laurel Wealth Advisors LLC purchased a new position in United Rentals during the 4th quarter valued at about $32,000. Finally, Fortitude Family Office LLC increased its holdings in United Rentals by 121.1% during the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock valued at $34,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

United Rentals stock opened at $931.17 on Friday. The stock’s 50 day simple moving average is $827.82 and its two-hundred day simple moving average is $840.57. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The stock has a market cap of $58.34 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.49 and a beta of 1.83. United Rentals, Inc. has a fifty-two week low of $681.98 and a fifty-two week high of $1,021.47.

United Rentals (NYSE:URI) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $11.47 by ($1.76). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.20 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.86 earnings per share. As a group, analysts expect that United Rentals, Inc. will post 47.07 earnings per share for the current fiscal year.

United Rentals announced that its Board of Directors has approved a share repurchase program on Wednesday, January 28th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s payout ratio is presently 20.10%.

Insider Transactions at United Rentals

In other United Rentals news, CEO Matthew John Flannery sold 22,768 shares of United Rentals 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 sale, 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 SEC, which can be accessed through this link. Also, SVP Joli L. Gross sold 306 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $954.99, for a total value of $292,226.94. Following the sale, the senior vice president directly owned 5,738 shares in the company, valued at approximately $5,479,732.62. The trade was a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 26,088 shares of company stock valued at $25,628,877. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on United Rentals from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Barclays boosted their price target on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a report on Friday, April 24th. Weiss Ratings upgraded United Rentals from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Evercore restated an “outperform” rating and set a $1,101.00 price target on shares of United Rentals in a report on Monday, May 11th. Finally, Royal Bank Of Canada boosted their price target on United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $996.94.

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.