United Rentals, Inc. $URI Shares Bought by Saudi Central Bank

Key Points

• Saudi Central Bank increased its United Rentals stake by 87.7% in the second quarter, owning 4,410 shares valued at approximately $5.0 million. Institutional investors collectively hold 96.26% of URI shares.
• United Rentals exceeded quarterly expectations, reporting $12.76 in EPS versus the $11.53 consensus and revenue of $4.41 billion, up 11.8% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $1,246.19. The company also pays a quarterly dividend of $1.97 per share, yielding about 0.8%.

Saudi Central Bank raised its holdings in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 87.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,410 shares of the construction company's stock after buying an additional 2,061 shares during the quarter. Saudi Central Bank's holdings in United Rentals were worth $4,996,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Woodline Partners LP boosted its position in shares of United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company's stock valued at $3,458,000 after acquiring an additional 1,577 shares during the last quarter. Sei Investments Co. grew its holdings in shares of United Rentals by 24.7% in the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company's stock valued at $20,444,000 after purchasing an additional 5,375 shares during the period. Treasurer of the State of North Carolina increased its position in United Rentals by 43.6% during the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company's stock worth $42,233,000 after purchasing an additional 17,030 shares during the last quarter. HUB Investment Partners LLC raised its stake in United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company's stock worth $1,661,000 after purchasing an additional 223 shares during the period. Finally, Diversify Advisory Services LLC raised its stake in United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company's stock worth $1,246,000 after purchasing an additional 1,277 shares during the period. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

United Rentals Trading Down 0.0%

NYSE URI opened at $1,009.78 on Monday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.70. The stock has a market capitalization of $62.85 billion, a P/E ratio of 24.25, a PEG ratio of 1.49 and a beta of 1.79. The firm's 50-day moving average is $1,087.43 and its two-hundred day moving average is $962.34. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The business's revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $10.47 EPS. On average, sell-side analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current year.

United Rentals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals's dividend payout ratio is 18.92%.

Analyst Upgrades and Downgrades

URI has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a "buy" rating in a report on Friday, July 24th. Argus reaffirmed a "buy" rating and set a $1,250.00 price target on shares of United Rentals in a research report on Tuesday, August 4th. UBS Group upped their price objective on United Rentals from $1,300.00 to $1,350.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Wells Fargo & Company upped their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Finally, Weiss Ratings upgraded United Rentals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,246.19.

Insider Activity at United Rentals

In other news, EVP William Grace sold 1,500 shares of the firm's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

About United Rentals

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.

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