United Rentals, Inc. (NYSE:URI) Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its holdings in United Rentals, Inc. (NYSE:URI) by 30.6% during the fourth quarter, Holdings Channel reports. The fund owned 51,629 shares of the construction company’s stock after selling 22,774 shares during the quarter. Korea Investment CORP’s holdings in United Rentals were worth $36,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Rialto Wealth Management LLC acquired a new stake in United Rentals during the 4th quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of United Rentals in the fourth quarter worth about $26,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of United Rentals in the fourth quarter worth about $27,000. Hanson & Doremus Investment Management acquired a new stake in United Rentals during the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC purchased a new position in United Rentals during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insider Activity at United Rentals

In other news, CFO William E. Grace sold 1,100 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 6,880 shares in the company, valued at $4,390,128. This trade represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by insiders.

United Rentals Trading Down 2.9 %

Shares of United Rentals stock opened at $627.10 on Friday. The stock has a 50 day moving average of $686.97 and a 200 day moving average of $754.58. 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 firm has a market capitalization of $40.95 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.43 and a beta of 1.76. United Rentals, Inc. has a fifty-two week low of $585.27 and a fifty-two week high of $896.98.

United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, January 29th. The construction company reported $11.59 earnings per share for the quarter, missing analysts’ consensus estimates of $11.65 by ($0.06). United Rentals had a return on equity of 34.21% and a net margin of 16.78%. As a group, research analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current 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 issued a $1.79 dividend. This is a positive change 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 dividend payout ratio is currently 18.48%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein upgraded shares of United Rentals from an “underperform” rating to a “market perform” rating and decreased their target price for the company from $705.00 to $666.00 in a research note on Tuesday. Truist Financial restated a “buy” rating and set a $956.00 price objective (down from $963.00) on shares of United Rentals in a research report on Friday, January 31st. Citigroup dropped their target price on shares of United Rentals from $985.00 to $835.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI cut their target price on shares of United Rentals from $1,004.00 to $974.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Bank of America reduced their price objective on United Rentals from $850.00 to $750.00 and set a “buy” rating for the company in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals has a consensus rating of “Moderate Buy” and an average target price of $804.15.

United Rentals Company Profile

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.