Korea Investment CORP Buys 7,411 Shares of United Rentals, Inc. $URI

Key Points

• Korea Investment CORP increased its stake in United Rentals, Inc. by 14.4%, acquiring a total of 59,040 shares worth approximately $37 million.
• Several institutional investors have significantly boosted their holdings in United Rentals, with GAMMA Investing LLC increasing its position by an astonishing 77,674.5%, now owning 887,407 shares.
• Goldman Sachs raised its price target for the stock from $770 to $850, with a consensus rating of "Moderate Buy" and an average price target of $834.64 among analysts.

Korea Investment CORP boosted its position in United Rentals, Inc. (NYSE:URI - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,040 shares of the construction company's stock after acquiring an additional 7,411 shares during the period. Korea Investment CORP owned 0.09% of United Rentals worth $37,000,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in United Rentals by 0.4% in the first quarter. Vanguard Group Inc. now owns 7,422,036 shares of the construction company's stock valued at $4,651,390,000 after acquiring an additional 29,501 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in United Rentals by 98.1% in the first quarter. JPMorgan Chase & Co. now owns 1,093,805 shares of the construction company's stock valued at $685,488,000 after buying an additional 541,579 shares during the period. GAMMA Investing LLC lifted its stake in United Rentals by 77,674.5% in the first quarter. GAMMA Investing LLC now owns 887,407 shares of the construction company's stock valued at $556,138,000 after buying an additional 886,266 shares during the period. Goldman Sachs Group Inc. lifted its stake in United Rentals by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 661,251 shares of the construction company's stock valued at $414,406,000 after buying an additional 120,449 shares during the period. Finally, Northern Trust Corp lifted its stake in United Rentals by 0.8% in the first quarter. Northern Trust Corp now owns 661,166 shares of the construction company's stock valued at $414,353,000 after buying an additional 5,113 shares during the period. Institutional investors own 96.26% of the company's stock.

United Rentals Stock Up 4.5%

Shares of NYSE:URI traded up $39.6690 during mid-day trading on Friday, reaching $929.7890. 767,803 shares of the stock were exchanged, compared to its average volume of 503,462. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. The company has a market cap of $59.82 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.06 and a beta of 1.72. United Rentals, Inc. has a one year low of $525.91 and a one year high of $937.45. The stock's 50 day simple moving average is $821.49 and its 200-day simple moving average is $713.79.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The construction company reported $10.47 earnings per share for the quarter, missing analysts' consensus estimates of $10.54 by ($0.07). United Rentals had a net margin of 16.11% and a return on equity of 32.01%. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the business earned $10.70 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. United Rentals has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that United Rentals, Inc. will post 44.8 EPS for the current year.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $7.16 annualized dividend and a yield of 0.8%. United Rentals's payout ratio is currently 18.52%.

Analyst Upgrades and Downgrades

URI has been the topic of several analyst reports. Citigroup reissued a "buy" rating and issued a $810.00 target price (up previously from $740.00) on shares of United Rentals in a research note on Tuesday, June 24th. Redburn Atlantic lowered United Rentals from a "buy" rating to a "neutral" rating and set a $760.00 price target on the stock. in a research report on Friday, June 13th. UBS Group raised their price target on United Rentals from $780.00 to $835.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Bank of America raised their price target on United Rentals from $895.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of United Rentals in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $834.64.

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.