Korea Investment CORP Trims Holdings in United Rentals, Inc. (NYSE:URI)

Korea Investment CORP reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 30.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,629 shares of the construction company’s stock after selling 22,774 shares during the quarter. Korea Investment CORP owned approximately 0.08% of United Rentals worth $36,370,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Townsquare Capital LLC increased its position in shares of United Rentals by 17.7% during the third quarter. Townsquare Capital LLC now owns 2,383 shares of the construction company’s stock worth $1,930,000 after acquiring an additional 359 shares during the period. Glenmede Trust Co. NA grew its stake in United Rentals by 4.4% in the third quarter. Glenmede Trust Co. NA now owns 3,914 shares of the construction company’s stock worth $3,169,000 after purchasing an additional 164 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in United Rentals by 24.5% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,933 shares of the construction company’s stock worth $1,565,000 after purchasing an additional 381 shares during the period. Fiduciary Trust Co raised its position in United Rentals by 11.7% during the 3rd quarter. Fiduciary Trust Co now owns 1,207 shares of the construction company’s stock valued at $977,000 after purchasing an additional 126 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of United Rentals by 15.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,925 shares of the construction company’s stock worth $2,368,000 after buying an additional 400 shares during the period. 96.26% of the stock is currently owned by institutional investors.

Insider Activity

In other United Rentals news, CFO William E. Grace sold 1,100 shares of United Rentals stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $638.10, for a total transaction of $701,910.00. Following the completion of the sale, the chief financial officer now owns 6,880 shares of the company’s stock, valued at approximately $4,390,128. The trade was a 13.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

URI has been the topic of several research reports. Baird R W upgraded United Rentals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and reduced their price target for the company from $705.00 to $666.00 in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of United Rentals from $940.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Robert W. Baird raised shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price objective for the company in a research note on Tuesday, January 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $956.00 target price (down previously from $963.00) on shares of United Rentals in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $804.15.

United Rentals Trading Down 2.9 %

United Rentals stock opened at $627.10 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.92 and a current ratio of 0.98. The stock has a market cap of $40.95 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The stock has a 50-day moving average of $686.97 and a two-hundred day moving average of $754.58. United Rentals, Inc. has a one year low of $585.27 and a one year high of $896.98.

United Rentals (NYSE:URI) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $11.59 EPS for the quarter, missing the consensus estimate of $11.65 by ($0.06). United Rentals had a net margin of 16.78% and a return on equity of 34.21%. On average, research analysts anticipate that United Rentals, Inc. will post 44.8 EPS for the current fiscal year.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.79 per share. This is an increase from United Rentals’s previous quarterly dividend of $1.63. This represents a $7.16 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Wednesday, February 12th. United Rentals’s payout ratio is presently 18.48%.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.