United Rentals, Inc. $URI Stock: ProShare Advisors LLC Grows Holdings

Key Points

• ProShare Advisors increased its United Rentals holdings by 11.2% in the third quarter, to 10,665 shares valued at about $10.7 million. Institutional investors and hedge funds collectively own 96.26% of the stock.
• United Rentals reported quarterly earnings of $15.55 per share, beating the $13.97 consensus estimate, while revenue of $4.89 billion also topped forecasts and rose 15.7% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $1,292.88. The company also announced a quarterly dividend of $1.97 per share, equivalent to a 0.7% annualized yield.

ProShare Advisors LLC raised its holdings in United Rentals, Inc. (NYSE:URI - Free Report) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,665 shares of the construction company's stock after buying an additional 1,070 shares during the period. ProShare Advisors LLC's holdings in United Rentals were worth $10,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of United Rentals during the second quarter worth about $29,000. MidFirst Bank bought a new position in United Rentals in the 2nd quarter valued at about $31,000. Bell Investment Advisors Inc bought a new position in United Rentals in the 2nd quarter valued at about $40,000. Laurel Wealth Advisors LLC bought a new position in United Rentals in the 3rd quarter valued at about $40,000. Finally, Frazier Financial Advisors LLC boosted its stake in United Rentals by 33.3% during the 1st quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company's stock valued at $41,000 after purchasing an additional 14 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of URI stock opened at $1,173.72 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.80 and a quick ratio of 0.73. The firm has a 50-day moving average of $1,052.53 and a 200-day moving average of $973.16. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,202.12. The company has a market cap of $72.68 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.65 and a beta of 1.82.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The construction company reported $15.55 earnings per share for the quarter, topping the consensus estimate of $13.97 by $1.58. The business had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.71 billion. United Rentals had a net margin of 16.33% and a return on equity of 33.47%. The firm's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $11.70 earnings per share. Equities research analysts forecast that United Rentals, Inc. will post 51.17 EPS for the current fiscal year.

United Rentals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be paid a $1.97 dividend. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, November 10th. United Rentals's payout ratio is presently 17.32%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on URI. Barclays boosted their price objective on United Rentals from $715.00 to $950.00 and gave the stock an "underweight" rating in a report on Friday, July 24th. Royal Bank Of Canada increased their price objective on United Rentals from $1,323.00 to $1,392.00 and gave the stock an "outperform" rating in a research note on Friday, October 23rd. Sanford C. Bernstein set a $1,258.00 target price on United Rentals in a report on Friday, October 23rd. KeyCorp reaffirmed an "overweight" rating on shares of United Rentals in a research report on Friday, October 23rd. Finally, Argus reiterated a "buy" rating and set a $1,250.00 price target on shares of United Rentals in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,292.88.

United Rentals Company Profile

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.

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