Published on 22 Mar 2024 on Insider Monkey via Yahoo Finance

Here’s Why ClearBridge SMID Cap Growth Strategy Exited United Rentals (URI)

ClearBridge Investments, an investment management company, released its “ClearBridge SMID Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed the benchmark Russell 2500 Growth Index in the fourth quarter with strong stock selection in the information technology ('IT') and consumer discretionary sectors overcoming detractors in the consumer staples sector. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge SMID Cap Growth Strategy featured stocks like United Rentals, Inc. (NYSE:URI) in the fourth quarter 2023 investor letter. Headquartered in Stamford, Connecticut, United Rentals, Inc. (NYSE:URI) is an equipment rental company. On March 21, 2024, United Rentals, Inc. (NYSE:URI) stock closed at $719.05 per share. One-month return of United Rentals, Inc. (NYSE:URI) was 9.59%, and its shares gained 94.56% of their value over the last 52 weeks. United Rentals, Inc. (NYSE:URI) has a market capitalization of $48.314 billion.

ClearBridge SMID Cap Growth Strategy stated the following regarding United Rentals, Inc. (NYSE:URI) in its fourth quarter 2023 investor letter: