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

ProShare Advisors LLC decreased its stake in shares of United Rentals, Inc. (NYSE:URI) by 17.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,863 shares of the construction company’s stock after selling 2,318 shares during the quarter. ProShare Advisors LLC’s holdings in United Rentals were worth $10,370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. D.B. Root & Company LLC acquired a new position in shares of United Rentals in the 3rd quarter valued at $210,000. Candriam S.C.A. grew its stake in United Rentals by 2.0% during the 3rd quarter. Candriam S.C.A. now owns 10,899 shares of the construction company’s stock valued at $10,405,000 after purchasing an additional 209 shares during the last quarter. RFG Advisory LLC grew its stake in United Rentals by 46.6% during the 3rd quarter. RFG Advisory LLC now owns 2,591 shares of the construction company’s stock valued at $2,474,000 after purchasing an additional 824 shares during the last quarter. Roman Butler Fullerton & Co. increased its holdings in shares of United Rentals by 70.7% in the third quarter. Roman Butler Fullerton & Co. now owns 1,707 shares of the construction company’s stock valued at $1,486,000 after purchasing an additional 707 shares during the period. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of United Rentals in the third quarter worth about $446,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Transactions at United Rentals

In related news, EVP Michael D. Durand sold 2,490 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $791.14, for a total transaction of $1,969,938.60. Following the completion of the sale, the executive vice president directly owned 7,458 shares in the company, valued at approximately $5,900,322.12. This trade represents a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William E. Grace sold 1,498 shares of United Rentals stock in a transaction dated 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 transaction, the executive vice president directly owned 6,872 shares in the company, valued at $5,434,996.08. This trade represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.53% of the company’s stock.

United Rentals Price Performance

Shares of NYSE URI opened at $873.08 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.88 and a current ratio of 0.94. The firm has a fifty day moving average of $855.75 and a 200 day moving average of $889.53. The firm has a market cap of $55.00 billion, a PE ratio of 22.57, a PEG ratio of 1.40 and a beta of 1.70. United Rentals, Inc. has a one year low of $525.91 and a one year high of $1,021.47.

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

United Rentals declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

United Rentals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from United Rentals’s previous quarterly dividend of $1.79. United Rentals’s dividend payout ratio is presently 20.37%.

Wall Street Analyst Weigh In

URI has been the topic of several research reports. KeyCorp set a $950.00 price target on shares of United Rentals in a report on Friday, January 30th. Truist Financial set a $972.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Robert W. Baird set a $970.00 price objective on shares of United Rentals in a research note on Friday, January 30th. Sanford C. Bernstein set a $965.00 target price on shares of United Rentals in a research report on Friday, January 30th. Finally, Citigroup lowered their price target on shares of United Rentals from $1,090.00 to $950.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.