Wellington Management Group LLP Sells 15,937 Shares of McGrath RentCorp (NASDAQ:MGRC)

Wellington Management Group LLP reduced its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 545,661 shares of the financial services provider's stock after selling 15,937 shares during the quarter. Wellington Management Group LLP owned approximately 2.22% of McGrath RentCorp worth $61,016,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its holdings in shares of McGrath RentCorp by 3.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider's stock valued at $291,000 after acquiring an additional 86 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in McGrath RentCorp by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,553 shares of the financial services provider's stock worth $285,000 after purchasing an additional 162 shares during the period. Sei Investments Co. increased its stake 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 valued at $1,182,000 after purchasing an additional 184 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of 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 during the period. Finally, EP Wealth Advisors LLC raised its holdings in shares of 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 during the period. Institutional investors and hedge funds own 92.05% of the company's stock.

Insiders Place Their Bets

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 stock was sold at an average price of $108.89, for a total value of $606,190.63. Following the transaction, the chief executive officer now directly owns 176,897 shares of the company's stock, valued at approximately $19,262,314.33. This trade represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John P. Skenesky sold 2,500 shares of McGrath RentCorp 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 directly owns 8,692 shares in the company, valued at approximately $967,593.44. This represents a 22.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,871 shares of company stock worth $1,382,041. Corporate insiders own 1.60% of the company's stock.

McGrath RentCorp Stock Performance

Shares of McGrath RentCorp stock traded up $1.04 on Monday, reaching $113.42. 163,941 shares of the company were exchanged, compared to its average volume of 182,439. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.35 and a beta of 0.66. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93. The company's 50-day moving average is $109.36 and its two-hundred day moving average is $115.03.

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

Wall Street Analysts Forecast Growth

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

About McGrath RentCorp

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.