On May 4, 2023 at 14:17:39 ET an unusually large $3,901.80K block of Put contracts in United Rentals (URI) was sold, with a strike price of $350.00 / share, expiring in 134 day(s) (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.00 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in URI options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1796 funds or institutions reporting positions in United Rentals. This is an increase of 139 owner(s) or 8.39% in the last quarter. Average portfolio weight of all funds dedicated to URI is 0.37%, an increase of 15.26%. Total shares owned by institutions increased in the last three months by 2.47% to 75,378K shares. The put/call ratio of URI is 1.11, indicating a bearish outlook.

Analyst Price Forecast Suggests 31.78% Upside

As of April 24, 2023, the average one-year price target for United Rentals is 461.55. The forecasts range from a low of 298.96 to a high of $588.00. The average price target represents an increase of 31.78% from its latest reported closing price of 350.23.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for United Rentals is 13,004MM, an increase of 4.85%. The projected annual non-GAAP EPS is 36.91.

What are Other Shareholders Doing?

Capital Research Global Investors holds 3,018K shares representing 4.39% ownership of the company. In it’s prior filing, the firm reported owning 2,792K shares, representing an increase of 7.49%. The firm increased its portfolio allocation in URI by 30.84% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,105K shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 2,082K shares, representing an increase of 1.09%. The firm increased its portfolio allocation in URI by 22.85% over the last quarter.

Capital World Investors holds 1,706K shares representing 2.48% ownership of the company. In it’s prior filing, the firm reported owning 1,693K shares, representing an increase of 0.75%. The firm increased its portfolio allocation in URI by 25.88% over the last quarter.

Norges Bank holds 1,650K shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 1,614K shares representing 2.35% ownership of the company. In it’s prior filing, the firm reported owning 1,614K shares, representing an increase of 0.01%. The firm increased its portfolio allocation in URI by 20.87% over the last quarter.

United Rentals Background Information
(This description is provided by the company.)

United Rentals, Inc. is the largest equipment rental company in the world. The company has an integrated network of 1,169 rental locations in North America and 11 in Europe. In North America, the company operates in 49 states and every Canadian province. The company’s approximately 18,900 employees serve construction and industrial customers, utilities, municipalities, homeowners and others. The company offers approximately 4,000 classes of equipment for rent with a total original cost of $14.13 billion. United Rentals is a member of the Standard & Poor’s 500 Index, the Barron’s 400 Index and the Russell 3000 Index® and is headquartered in Stamford, Conn.

See all United Rentals regulatory filings.

This article originally appeared on Fintel