FMR LLC grew its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 186.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 917 shares of the financial services provider’s stock after buying an additional 597 shares during the quarter. FMR LLC’s holdings in McGrath RentCorp were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of MGRC. Cutler Group LP bought a new stake in shares of McGrath RentCorp during the fourth quarter valued at approximately $25,000. Amundi Pioneer Asset Management Inc. acquired a new position in McGrath RentCorp in the fourth quarter valued at approximately $124,000. Advisor Group Inc. lifted its holdings in McGrath RentCorp by 16.5% in the fourth quarter. Advisor Group Inc. now owns 2,600 shares of the financial services provider’s stock valued at $135,000 after buying an additional 369 shares during the period. Great West Life Assurance Co. Can lifted its holdings in McGrath RentCorp by 36.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 3,811 shares of the financial services provider’s stock valued at $188,000 after buying an additional 1,025 shares during the period. Finally, First Quadrant L P CA lifted its holdings in McGrath RentCorp by 154.1% in the fourth quarter. First Quadrant L P CA now owns 3,948 shares of the financial services provider’s stock valued at $203,000 after buying an additional 2,394 shares during the period. 83.97% of the stock is currently owned by hedge funds and other institutional investors.
In other McGrath RentCorp news, CFO Keith E. Pratt sold 962 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $64.20, for a total value of $61,760.40. Following the sale, the chief financial officer now directly owns 26,563 shares in the company, valued at $1,705,344.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John P. Skenesky sold 1,719 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $59.01, for a total transaction of $101,438.19. Following the completion of the sale, the vice president now owns 2,992 shares in the company, valued at $176,557.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,895 shares of company stock worth $1,082,331. Company insiders own 2.00% of the company’s stock.
NASDAQ MGRC traded down $0.71 during trading hours on Wednesday, hitting $56.83. The company’s stock had a trading volume of 290,900 shares, compared to its average volume of 104,106. McGrath RentCorp has a twelve month low of $45.85 and a twelve month high of $68.79. The firm has a market capitalization of $1.39 billion, a P/E ratio of 18.16, a P/E/G ratio of 1.70 and a beta of 0.73.
McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.13. The company had revenue of $122.00 million for the quarter, compared to analyst estimates of $113.87 million. McGrath RentCorp had a net margin of 16.18% and a return on equity of 14.86%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. Equities research analysts anticipate that McGrath RentCorp will post 3.4 earnings per share for the current fiscal year.
MGRC has been the topic of several analyst reports. BidaskClub upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Saturday, February 2nd.
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McGrath RentCorp Profile
McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates in four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
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