Chartwell Investment Partners, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. For the second quarter, Chartwell-managed accounts fell in line with their respective index benchmarks, however, the Chartwell Dividend Model outperformed by a significant margin versus its benchmark. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Chartwell Investment Partners 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 $19.1 billion market capitalization. United Rentals, Inc. (NYSE:URI) delivered a -17.76% return since the beginning of the year, while its 12-month returns are down by -23.08%. The stock closed at $273.27 per share on September 22, 2022.
Here is what Chartwell Investment Partners has to say about United Rentals, Inc. (NYSE:URI) in its Q2 2022 investor letter:
“The three worst performers in the Growth and Balanced accounts includes United Rentals (NYSE:URI, 1.9%), down 31.6%. United Rentals suffered a similar fate, even though they are not seeing any slowing yet in non-residential construction, and the secular move toward more use of the rental channel is intact.”
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 37 hedge fund portfolios at the end of the second quarter of 2022, compared to 47 funds in the previous quarter. United Rentals, Inc. (NYSE:URI) delivered a 15.87% return in the past 3 months.
In April 2022, we also shared another hedge fund’s views on 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 Q2 page.
Disclosure: None. This article is originally published at Insider Monkey.