Two Sigma Advisers LP Boosts Position in McGrath RentCorp (NASDAQ:MGRC)

Two Sigma Advisers LP boosted its holdings in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 136,662 shares of the financial services provider's stock after acquiring an additional 31,700 shares during the period. Two Sigma Advisers LP owned 0.56% of McGrath RentCorp worth $15,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MGRC. Atala Financial Inc acquired a new stake in McGrath RentCorp in the 4th quarter valued at about $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of McGrath RentCorp during the 4th quarter worth about $33,000. Canada Pension Plan Investment Board acquired a new stake in shares of McGrath RentCorp during the 4th quarter worth about $89,000. KBC Group NV boosted its stake in shares of McGrath RentCorp by 37.3% during the 4th 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 during the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of McGrath RentCorp during the 4th quarter worth about $136,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Joseph F. Hanna sold 5,567 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $108.89, for a total value of $606,190.63. Following the transaction, the chief executive officer now owns 176,897 shares in the company, valued at approximately $19,262,314.33. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John P. Skenesky sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $111.32, for a total transaction of $278,300.00. Following the completion of the transaction, the vice president now owns 8,692 shares in the company, valued at $967,593.44. The trade was a 22.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,871 shares of company stock valued at $1,506,731. Insiders own 1.60% of the company's stock.

McGrath RentCorp Stock Up 0.8%

Shares of MGRC traded up $0.90 during mid-day trading on Tuesday, hitting $114.28. The company had a trading volume of 17,313 shares, compared to its average volume of 145,725. The business's 50-day simple moving average is $109.49 and its 200-day simple moving average is $115.22. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93. The stock has a market cap of $2.81 billion, a PE ratio of 12.12, a P/E/G ratio of 1.35 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its 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. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The business had revenue of $195.42 million for the quarter, compared to analysts' expectations of $189.03 million. During the same period last year, the company earned $0.93 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current year.

Analyst Ratings Changes

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 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.