Here’s Why You Should Consider Investing in United Rentals (URI)

ClearBridge Investments, an investment management firm, published its “Mid Cap Growth Strategy” first quarter 2021 investor letter – a copy of which can be downloaded here. During the first quarter, the ClearBridge Mid Cap Growth Strategy underperformed its Russell Midcap Growth benchmark. On an absolute basis, the Strategy had losses across nine of the 10 sectors in which it was invested during the quarter (out of 11 sectors total), with the IT, consumer discretionary, and health care sectors the primary detractors, while the energy sector was the lone contributor. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Clearbridge Investments Mid Cap Growth Strategy mentioned United Rentals, Inc. (NYSE:URI) and explained its insights for the company. Founded in 1997, United Rentals, Inc. (NYSE:URI)  is a Stamford, Connecticut-based equipment rental company with a $23.9 billion market capitalization. United Rentals, Inc. (NYSE:URI)  delivered a -0.37% return since the beginning of the year, while its 12-month returns are up by 1.75%. The stock closed at $331.07per share on April 15, 2022.

Here is what Clearbridge Investments Mid Cap Growth Strategy has to say about United Rentals, Inc. (NYSE:URI) in its Q1 2022 investor letter:

“More promising was the performance of several of the portfolio’s core compounding growth names. Construction equipment leasing company United Rentals (NYSE:URI) benefited from continued improvement of non-residential construction trends. The leading contributors to absolute returns during the first quarter included United Rentals.”

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Our calculations show that United Rentals, Inc. (NYSE:URI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. United Rentals, Inc. (NYSE:URI) was in 49 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 37 funds in the previous quarter. United Rentals, Inc. (NYSE:URI) delivered a -1.53% return in the past 3 months.

In May 2021, we published an article that includes United Rentals, Inc. (NYSE:URI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.