ProShare Advisors LLC Has $7.81 Million Stock Holdings in McGrath RentCorp (NASDAQ:MGRC)

ProShare Advisors LLC lowered its holdings in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,831 shares of the financial services provider's stock after selling 3,091 shares during the quarter. ProShare Advisors LLC owned about 0.28% of McGrath RentCorp worth $7,809,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Atala Financial Inc acquired a new position in McGrath RentCorp during the 4th quarter worth about $31,000. New Age Alpha Advisors LLC acquired a new position in shares of McGrath RentCorp during the fourth quarter worth approximately $33,000. Canada Pension Plan Investment Board bought a new stake in shares of McGrath RentCorp during the fourth quarter valued at approximately $89,000. KBC Group NV grew its stake in shares of McGrath RentCorp by 37.3% during 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 last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of McGrath RentCorp in the fourth quarter valued at approximately $136,000. Institutional investors own 92.05% of the company's stock.

Insiders Place Their Bets

In related news, COO Philip B. Hawkins sold 4,804 shares of McGrath RentCorp stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $103.57, for a total transaction of $497,550.28. Following the transaction, the chief operating officer now 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 Securities & Exchange Commission, which can be accessed through this link. Also, VP John P. Skenesky sold 2,500 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $111.32, for a total transaction of $278,300.00. Following the completion of the sale, the vice president now owns 8,692 shares in the company, valued at approximately $967,593.44. This trade represents a 22.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,871 shares of company stock worth $1,506,731. Insiders own 1.60% of the company's stock.

McGrath RentCorp Stock Down 2.7%

NASDAQ MGRC traded down $3.10 during trading hours on Wednesday, hitting $113.48. The company's stock had a trading volume of 263,354 shares, compared to its average volume of 181,230. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $129.93. The firm has a market capitalization of $2.79 billion, a P/E ratio of 12.03, a PEG ratio of 1.35 and a beta of 0.66. The stock has a fifty day moving average of $109.54 and a 200 day moving average of $115.40.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised 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.