Jim Cramer’s Bold Predictions About These 10 Industrial Stocks

2. United Rentals, Inc. (NYSE:URI)

Number of Hedge Fund Holders In Q3 2024: 45

Date of Cramer’s Comments: 8-19-24

Performance Since Then: -0.47%

United Rentals, Inc. (NYSE:URI) is one of the biggest industrial and construction rental equipment providers in America. Even though its end markets have struggled in 2024, United Rentals, Inc. (NYSE:URI)’s shares are up by a modest 26% year-to-date. They have been buffered by strong quarterly earnings. The firm has grown revenue by 6% during the first nine months of 2024, with equipment rentals driving the growth. However, December hasn’t been kind to United Rentals, Inc. (NYSE:URI)’s shares as they have lost 15% in the month. The selloff accelerated after the Fed’s interest rate guidance as the shares closed the day 4.5% lower. Here’s what Cramer said in August:

“First of all, it’s significantly off its high, though it’s up 25% per year. The reason this company is performing well is because of all the infrastructure work happening in the country. Not everyone can go out and buy things; a lot of stuff is rented instead. This company is involved everywhere. I used to like the stock back in 2003; they used to come on air, and I thought they were brilliant. I haven’t seen them in a long time, but they’re still very impressive. You’ve got a winner there. “