Korea Investment CORP Has $36.23 Million Stock Position in United Rentals, Inc. $URI

Korea Investment CORP cut its holdings in shares of United Rentals, Inc. (NYSE:URI) by 18.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 48,091 shares of the construction company’s stock after selling 10,949 shares during the period. Korea Investment CORP’s holdings in United Rentals were worth $36,232,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in URI. JPMorgan Chase & Co. increased its holdings in United Rentals by 71.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,874,127 shares of the construction company’s stock worth $1,411,968,000 after purchasing an additional 780,322 shares in the last quarter. Nuveen LLC bought a new position in shares of United Rentals in the first quarter valued at approximately $402,291,000. Boston Partners boosted its position in shares of United Rentals by 74.5% during the second quarter. Boston Partners now owns 715,250 shares of the construction company’s stock valued at $542,526,000 after buying an additional 305,378 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in United Rentals during the second quarter worth $152,069,000. Finally, The Manufacturers Life Insurance Company grew its holdings in United Rentals by 28.8% during the first quarter. The Manufacturers Life Insurance Company now owns 849,786 shares of the construction company’s stock worth $532,561,000 after buying an additional 190,007 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

United Rentals Stock Performance

NYSE URI opened at $815.43 on Friday. The company has a market capitalization of $51.89 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.97 and a beta of 1.73. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.84 and a current ratio of 0.90. United Rentals, Inc. has a 52-week low of $525.91 and a 52-week high of $1,021.47. The company has a 50-day simple moving average of $902.91 and a 200 day simple moving average of $849.07.

United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 22nd. The construction company reported $11.70 earnings per share for the quarter, missing analysts’ consensus estimates of $12.43 by ($0.73). United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the previous year, the firm earned $11.80 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. On average, research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid a $1.79 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $7.16 annualized dividend and a dividend yield of 0.9%. United Rentals’s payout ratio is presently 18.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. BNP Paribas Exane upgraded United Rentals from an “underperform” rating to a “neutral” rating and set a $900.00 price objective on the stock in a research note on Tuesday, September 16th. Sanford C. Bernstein set a $1,128.00 price target on shares of United Rentals and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Argus set a $935.00 price target on shares of United Rentals in a report on Tuesday, August 12th. Barclays reduced their price objective on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a research report on Monday, October 20th. Finally, Truist Financial set a $1,169.00 target price on shares of United Rentals in a research report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $975.61.

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.