McGrath RentCorp (NASDAQ:MGRC) Stock Position Increased by Squarepoint Ops LLC

Squarepoint Ops LLC grew its holdings in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,624 shares of the financial services provider's stock after acquiring an additional 2,851 shares during the period. Squarepoint Ops LLC owned about 0.06% of McGrath RentCorp worth $1,635,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Atala Financial Inc purchased a new stake in McGrath RentCorp during the 4th quarter worth $31,000. New Age Alpha Advisors LLC purchased a new stake in McGrath RentCorp during the 4th quarter worth $33,000. Canada Pension Plan Investment Board purchased a new stake in McGrath RentCorp during the 4th quarter worth $89,000. KBC Group NV increased its stake in 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 buying an additional 286 shares during the period. Finally, Focus Partners Wealth purchased a new stake in McGrath RentCorp during the 4th quarter worth $136,000. Hedge funds and other institutional investors own 92.05% of the company's stock.

Insider Activity

In other news, VP John P. Skenesky sold 2,500 shares of McGrath RentCorp stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $111.32, for a total value of $278,300.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Also, COO Philip B. Hawkins sold 4,804 shares of McGrath RentCorp stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $103.57, for a total transaction of $497,550.28. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,871 shares of company stock valued at $1,382,041. Company insiders own 1.60% of the company's stock.

McGrath RentCorp Price Performance

McGrath RentCorp stock traded up $1.94 during midday trading on Tuesday, hitting $116.29. 150,531 shares of the stock were exchanged, compared to its average volume of 183,118. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $129.93. The firm has a market cap of $2.86 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.35 and a beta of 0.66. The company has a 50 day moving average price of $109.34 and a two-hundred day moving average price of $115.03.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.13. The company had revenue of $195.42 million during 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 firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS. As a group, analysts predict that McGrath RentCorp will post 6.18 EPS 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.