BNP Paribas Financial Markets Has $1.83 Million Holdings in McGrath RentCorp (NASDAQ:MGRC)

BNP Paribas Financial Markets increased its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 29.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,399 shares of the financial services provider's stock after buying an additional 3,767 shares during the period. BNP Paribas Financial Markets owned 0.07% of McGrath RentCorp worth $1,834,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGRC. Atala Financial Inc acquired a new position in shares of McGrath RentCorp during the 4th quarter worth $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of McGrath RentCorp in the 4th quarter valued at $33,000. Canada Pension Plan Investment Board bought a new stake in McGrath RentCorp in the fourth quarter worth $89,000. KBC Group NV boosted its holdings in McGrath RentCorp by 37.3% in the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock worth $118,000 after purchasing an additional 286 shares in the last quarter. Finally, Xponance Inc. acquired a new position in McGrath RentCorp during the fourth quarter worth $200,000. Institutional investors own 92.05% of the company's stock.

Insider Buying and Selling

In related news, CEO Joseph F. Hanna sold 5,567 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $108.89, for a total transaction of $606,190.63. Following the completion of the sale, the chief executive officer now owns 176,897 shares in the company, valued at $19,262,314.33. This represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Philip B. Hawkins sold 4,804 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $103.57, for a total value of $497,550.28. Following the completion of the sale, the chief operating officer now directly owns 3,150 shares in the company, valued at $326,245.50. This trade represents a 60.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,871 shares of company stock worth $1,506,731 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com raised McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday, April 25th.

McGrath RentCorp Trading Down 2.7%

McGrath RentCorp stock traded down $3.10 during trading hours on Wednesday, reaching $113.48. 263,354 shares of the company were exchanged, compared to its average volume of 181,230. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The stock has a 50-day moving average of $109.54 and a 200 day moving average of $115.40. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.35 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.13. The business had revenue of $195.42 million during the quarter, compared to analysts' expectations of $189.03 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. McGrath RentCorp's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, research analysts forecast that McGrath RentCorp will post 6.18 EPS for the current year.

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, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.