Wellington Management Group LLP Has $61.02 Million Holdings in McGrath RentCorp (NASDAQ:MGRC)

Wellington Management Group LLP cut its stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 545,661 shares of the financial services provider's stock after selling 15,937 shares during the period. Wellington Management Group LLP owned about 2.22% of McGrath RentCorp worth $61,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MGRC. O Shaughnessy Asset Management LLC lifted its holdings in McGrath RentCorp by 3.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider's stock worth $291,000 after buying an additional 86 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of McGrath RentCorp by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,553 shares of the financial services provider's stock worth $285,000 after acquiring an additional 162 shares in the last quarter. Sei Investments Co. raised its holdings in McGrath RentCorp by 1.8% during the fourth quarter. Sei Investments Co. now owns 10,575 shares of the financial services provider's stock worth $1,182,000 after purchasing an additional 184 shares in the last quarter. Forum Financial Management LP raised its holdings in McGrath RentCorp by 11.2% during the fourth quarter. Forum Financial Management LP now owns 2,142 shares of the financial services provider's stock worth $240,000 after purchasing an additional 216 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in McGrath RentCorp by 11.0% during the fourth quarter. EP Wealth Advisors LLC now owns 2,416 shares of the financial services provider's stock worth $270,000 after purchasing an additional 239 shares in the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

McGrath RentCorp Stock Performance

NASDAQ MGRC traded down $0.62 during trading hours on Friday, reaching $112.74. The company's stock had a trading volume of 109,133 shares, compared to its average volume of 182,102. The stock has a market cap of $2.77 billion, a PE ratio of 11.96, a PEG 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 company's 50-day moving average is $109.36 and its two-hundred day moving average is $115.10.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.68% and a net margin of 25.44%. The business's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. Equities analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Philip B. Hawkins sold 4,804 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $103.57, for a total transaction of $497,550.28. Following the completion of the sale, the chief operating officer now directly owns 3,150 shares of the company's stock, valued at $326,245.50. This trade represents a 60.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John P. Skenesky sold 2,500 shares of the firm's stock in a transaction on 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. This trade represents a 22.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,871 shares of company stock valued at $1,382,041. Corporate insiders own 1.60% of the company's stock.

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.