Korea Investment CORP Purchases New Position in United Rentals, Inc. $URI

Korea Investment CORP purchased a new stake in United Rentals, Inc. (NYSE:URI) during the second quarter, Holdings Channel reports. The firm purchased 30,316 shares of the construction company’s stock, valued at approximately $34,345,000.

Several other hedge funds have also recently bought and sold shares of URI. Core Wealth Advisors LLC bought a new position in shares of United Rentals during the fourth quarter valued at $28,000. MV Capital Management Inc. bought a new stake in shares of United Rentals in the 4th quarter worth about $28,000. MidFirst Bank bought a new stake in shares of United Rentals in the 2nd quarter worth about $31,000. Laurel Wealth Advisors LLC acquired a new stake in shares of United Rentals during the 4th quarter worth about $32,000. Finally, Hilton Head Capital Partners LLC bought a new position in United Rentals during the 4th quarter valued at about $34,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target on the stock in a research report on Monday, June 29th. Zacks Research raised shares of United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Raymond James Financial reiterated an “outperform” rating and issued a $1,275.00 target price on shares of United Rentals in a research note on Wednesday, June 10th. Barclays boosted their target price on United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company lifted their price objective on United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. One 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,246.19.

Insider Buying and Selling

In other United Rentals news, EVP William E. Grace sold 1,500 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the transaction, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.

United Rentals Trading Down 0.0%

URI opened at $1,095.21 on Friday. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18. The stock has a market capitalization of $68.17 billion, a PE ratio of 26.30, a PEG ratio of 1.42 and a beta of 1.80. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average price of $1,099.22 and a two-hundred day moving average price of $949.51.

United Rentals (NYSE:URI) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. United Rentals’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.47 earnings per share. As a group, equities analysts anticipate that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s dividend payout ratio is currently 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.