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

Saudi Central Bank grew its holdings in United Rentals, Inc. (NYSE:URI) by 87.7% in the 2nd quarter, according to the company in 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 acquiring an additional 2,061 shares during the period. Saudi Central Bank’s holdings in United Rentals were worth $4,996,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd purchased a new position in United Rentals in the second quarter valued at $29,000. MidFirst Bank purchased a new stake in United Rentals during the 2nd quarter worth about $31,000. Core Wealth Advisors LLC purchased a new stake in United Rentals during the 4th quarter worth about $28,000. MV Capital Management Inc. acquired a new stake in United Rentals in the 4th quarter valued at about $28,000. Finally, Bell Investment Advisors Inc acquired a new stake in United Rentals in the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on URI. Argus reiterated a “buy” rating and issued a $1,250.00 price objective on shares of United Rentals in a research note on Tuesday, August 4th. Raymond James Financial restated an “outperform” rating and set a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. UBS Group raised their target price on shares of United Rentals from $1,300.00 to $1,350.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Truist Financial lifted their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective on the stock in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.

Insider Buying and Selling at United Rentals

In related news, EVP William Grace sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 6,062 shares in the company, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

United Rentals Trading Down 0.0%

NYSE URI opened at $1,009.78 on Monday. The firm’s fifty day moving average price is $1,087.43 and its 200 day moving average price is $962.34. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,179.18. 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 company has a market capitalization of $62.85 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.79.

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

United Rentals Announces Dividend

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

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.