Is United Rentals (URI) a Good Investment Opportunity?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the mid-cap stocks posted solid gains. On the other hand, its full-year returns were disappointing. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisors highlighted stocks like United Rentals, Inc. (NYSE:URI) in the Q4 2022 investor letter. Headquartered in  Stamford, Connecticut, United Rentals, Inc. (NYSE:URI) is an equipment rental company. On January 16, 2023, United Rentals, Inc. (NYSE:URI) stock closed at $392.24 per share. One-month return of United Rentals, Inc. (NYSE:URI) was 11.67%, and its shares gained 19.65% of their value over the last 52 weeks. United Rentals, Inc. (NYSE:URI) has a market capitalization of $27.186 billion.

Carillon Tower Advisors made the following comment about United Rentals, Inc. (NYSE:URI) in its Q4 2022 investor letter:

“United Rentals, Inc. (NYSE:URI) rents equipment primarily to construction and industrial companies, as well to as manufacturers, utilities, homeowners, municipalities, and other government entities. The company has benefitted from the continued tightness throughout the machinery sector, as original equipment manufacturers struggle to meet demand due to ongoing supply chain constraints. Activity within most of its major customer verticals remains strong, and the company sees itself as well-positioned to capitalize on secular trends such as the reshoring of global supply chains and increased infrastructure investment.”

United Rentals, Inc. (NYSE:URI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 51 hedge fund portfolios held United Rentals, Inc. (NYSE:URI) at the end of the third quarter which was 37 in the previous quarter.

We discussed United Rentals, Inc. (NYSE:URI) in another article and shared the biggest leasing companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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