UNITED Rentals, Inc. (NYSE: URI) reported rental revenue and adjusted EBITDA growing 13 percent year-over-year in the third quarter of 2026, with Specialty rentals surging 25 percent as the primary driver of growth.
The equipment rental company's Specialty segment capitalized on large-scale demand from data centers, power generation facilities, infrastructure development, and liquefied natural gas projects. General rentals added 7 percent growth. Wedgewood Partners, which holds URI, noted the Specialty strength in its Q3 2026 investor letter.
Local projects—typically higher-margin but smaller in scale—grew only in the low single-digits. Wedgewood Partners indicated that an easing of interest rates or recovery in residential construction would unlock margin expansion in this segment.
URI closed at $1,029.64 on Oct. 16, 2026, valuing the company at $64.09 billion. The stock is up 27.22 percent year-to-date and has traded between $701.59 and $1,179.18 over the past 52 weeks.
Hedge fund ownership declined to 59 portfolios at the end of Q2 2026, down from 64 in the prior quarter. URI is not on the list of the 40 Most Popular Stocks Among Hedge Funds.
Wedgewood Partners noted that URI detracted from its composite portfolio's net return in Q3, which delivered a 2.5 percent return, outperforming the S&P 500's 2.3 percent but trailing the Russell 1000 Value Index's 2.6 percent.
