Korea Investment CORP grew its position in shares of United Rentals, Inc. (NYSE:URI) by 20.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,026 shares of the construction company’s stock after buying an additional 25,250 shares during the quarter. Korea Investment CORP owned 0.17% of United Rentals worth $20,260,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Dumont & Blake Investment Advisors LLC raised its position in United Rentals by 0.3% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 5,360 shares of the construction company’s stock worth $604,000 after buying an additional 15 shares during the last quarter. Profund Advisors LLC raised its position in United Rentals by 1.1% during the 2nd quarter. Profund Advisors LLC now owns 2,256 shares of the construction company’s stock worth $254,000 after buying an additional 24 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in United Rentals by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,279 shares of the construction company’s stock worth $708,000 after buying an additional 25 shares during the last quarter. Bank of Hawaii raised its position in United Rentals by 0.3% during the 2nd quarter. Bank of Hawaii now owns 11,330 shares of the construction company’s stock worth $1,277,000 after buying an additional 30 shares during the last quarter. Finally, Alps Advisors Inc. raised its position in United Rentals by 0.7% during the 2nd quarter. Alps Advisors Inc. now owns 9,511 shares of the construction company’s stock worth $1,072,000 after buying an additional 62 shares during the last quarter. Institutional investors own 91.91% of the company’s stock.
URI has been the subject of a number of analyst reports. ValuEngine downgraded shares of United Rentals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 20th. Bank of America Corporation restated a “buy” rating and set a $145.00 price objective (up previously from $130.00) on shares of United Rentals in a research report on Thursday, July 20th. BidaskClub downgraded shares of United Rentals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of United Rentals from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research report on Wednesday, August 2nd. Finally, Citigroup Inc. upped their price objective on shares of United Rentals from $130.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. United Rentals has an average rating of “Buy” and an average target price of $144.97.
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Shares of United Rentals, Inc. (NYSE:URI) traded down $1.70 during midday trading on Tuesday, reaching $144.61. 1,313,800 shares of the company were exchanged, compared to its average volume of 1,598,167. The firm has a market cap of $12,230.00, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.89 and a beta of 2.65. United Rentals, Inc. has a 12-month low of $90.77 and a 12-month high of $149.45. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.88 and a current ratio of 0.92.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, October 18th. The construction company reported $3.25 EPS for the quarter, beating the Zacks’ consensus estimate of $2.98 by $0.27. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. United Rentals had a net margin of 9.64% and a return on equity of 44.81%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.58 EPS. analysts predict that United Rentals, Inc. will post 10.49 earnings per share for the current year.
United Rentals announced that its board has initiated a stock buyback program on Wednesday, October 18th that permits the company to buyback $373.00 million in outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other United Rentals news, CFO William B. Plummer sold 5,301 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $128.26, for a total transaction of $679,906.26. Following the sale, the chief financial officer now directly owns 38,055 shares of the company’s stock, valued at approximately $4,880,934.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald C. Roof sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $143.95, for a total transaction of $647,775.00. The disclosure for this sale can be found here. Insiders have sold a total of 65,433 shares of company stock worth $9,434,570 over the last ninety days. 1.20% of the stock is owned by corporate insiders.
United Rentals Profile
United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.
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