BNP Paribas Financial Markets Raises Stake in McGrath RentCorp (NASDAQ:MGRC)

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

Other hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its stake in McGrath RentCorp by 351.6% during the third quarter. Barclays PLC now owns 40,555 shares of the financial services provider's stock worth $4,269,000 after buying an additional 31,575 shares during the period. Empirical Asset Management LLC purchased a new position in McGrath RentCorp during the fourth quarter worth about $207,000. Janney Montgomery Scott LLC boosted its stake in McGrath RentCorp by 4.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider's stock worth $933,000 after buying an additional 357 shares during the period. KBC Group NV boosted its stake in McGrath RentCorp by 37.3% during the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock worth $118,000 after buying an additional 286 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in McGrath RentCorp by 12.9% during the fourth quarter. Hantz Financial Services Inc. now owns 21,939 shares of the financial services provider's stock worth $2,453,000 after buying an additional 2,506 shares during the period. Hedge funds and other institutional investors own 92.05% of the company's stock.

Insider Transactions at McGrath RentCorp

In other news, VP John P. Skenesky sold 2,500 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $111.32, for a total transaction of $278,300.00. Following the sale, the vice president now owns 8,692 shares of the company's stock, valued at approximately $967,593.44. This represents a 22.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph F. Hanna sold 5,567 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $108.89, for a total transaction of $606,190.63. Following the sale, the chief executive officer now directly owns 176,897 shares in the company, valued at $19,262,314.33. This represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,871 shares of company stock valued at $1,506,731. 1.60% of the stock is currently owned by corporate insiders.

McGrath RentCorp Stock Performance

Shares of MGRC traded down $1.17 during mid-day trading on Friday, hitting $113.38. 79,702 shares of the company's stock were exchanged, compared to its average volume of 181,694. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.35 and a beta of 0.66. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $129.93. The stock's 50-day moving average is $109.53 and its 200-day moving average is $115.36.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.13. The business had revenue of $195.42 million for 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%. The business's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 earnings per share. As a group, equities research analysts anticipate that McGrath RentCorp will post 6.18 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

McGrath RentCorp Company 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.