McGrath RentCorp (NASDAQ:MGRC) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 30.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,331 shares of the financial services provider's stock after purchasing an additional 11,412 shares during the period. Janus Henderson Group PLC owned about 0.20% of McGrath RentCorp worth $5,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atala Financial Inc purchased a new position in McGrath RentCorp in the fourth quarter valued at $31,000. New Age Alpha Advisors LLC purchased a new position in McGrath RentCorp in the fourth quarter valued at $33,000. Canada Pension Plan Investment Board purchased a new position in McGrath RentCorp in the fourth quarter valued at $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 valued at $118,000 after purchasing an additional 286 shares during the period. Finally, Focus Partners Wealth purchased a new position in McGrath RentCorp in the fourth quarter valued at $136,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, VP John P. Skenesky sold 2,500 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $111.32, for a total value of $278,300.00. Following the completion of the sale, the vice president now directly owns 8,692 shares of the company's stock, valued at approximately $967,593.44. The trade was a 22.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $124.69, for a total value of $124,690.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company's stock, valued at $935,175. The trade was a 11.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,871 shares of company stock valued at $1,506,731. Insiders own 1.60% of the company's stock.

McGrath RentCorp Stock Performance

NASDAQ MGRC traded down $1.17 during trading on Friday, reaching $113.38. 79,702 shares of the company's stock were exchanged, compared to its average volume of 182,235. The stock has a market cap of $2.79 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. The company has a 50 day moving average price of $109.53 and a two-hundred day moving average price of $115.31. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $129.93.

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

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.