Korea Investment CORP Has $35.83 Million Holdings in United Rentals, Inc. (NYSE:URI)

Korea Investment CORP increased its stake in shares of United Rentals, Inc. (NYSE:URIGet Rating) by 150.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,511 shares of the construction company’s stock after purchasing an additional 88,711 shares during the period. Korea Investment CORP’s holdings in United Rentals were worth $35,832,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in URI. Capital Research Global Investors grew its stake in shares of United Rentals by 55.7% during the first quarter. Capital Research Global Investors now owns 2,693,664 shares of the construction company’s stock worth $956,818,000 after purchasing an additional 964,105 shares during the period. Royal Bank of Canada grew its stake in shares of United Rentals by 49.1% during the first quarter. Royal Bank of Canada now owns 672,534 shares of the construction company’s stock worth $238,890,000 after purchasing an additional 221,613 shares during the period. Vanguard Group Inc. grew its stake in shares of United Rentals by 2.3% during the first quarter. Vanguard Group Inc. now owns 8,179,328 shares of the construction company’s stock worth $2,905,379,000 after purchasing an additional 186,931 shares during the period. CI Investments Inc. grew its stake in shares of United Rentals by 119.0% during the first quarter. CI Investments Inc. now owns 300,611 shares of the construction company’s stock worth $106,780,000 after purchasing an additional 163,351 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of United Rentals by 67.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 361,084 shares of the construction company’s stock worth $87,711,000 after purchasing an additional 145,843 shares during the period. 90.41% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

Shares of United Rentals stock opened at $358.44 on Thursday. The firm has a market cap of $24.84 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.60 and a beta of 1.86. The stock’s 50-day moving average is $303.05 and its 200-day moving average is $291.44. United Rentals, Inc. has a one year low of $230.54 and a one year high of $376.94. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.03 and a quick ratio of 0.94.

United Rentals announced that its board has initiated a share repurchase plan on Wednesday, October 26th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on URI. KeyCorp lifted their target price on United Rentals from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on United Rentals from $354.00 to $328.00 and set a “hold” rating on the stock in a report on Thursday, October 13th. StockNews.com lowered United Rentals from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Citigroup lifted their target price on United Rentals to $375.00 in a report on Tuesday, August 9th. Finally, Sanford C. Bernstein lowered United Rentals from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $307.00 to $269.00 in a report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $363.82.

Insider Activity

In other news, Director Jose B. Alvarez purchased 177 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were bought at an average cost of $344.65 per share, for a total transaction of $61,003.05. Following the completion of the acquisition, the director now directly owns 10,660 shares in the company, valued at approximately $3,673,969. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

About United Rentals

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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.

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Institutional Ownership by Quarter for United Rentals (NYSE:URI)

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