Two Sigma Investments LP Trims Holdings in McGrath RentCorp (NASDAQ:MGRC)

Two Sigma Investments LP trimmed its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 40.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,405 shares of the financial services provider's stock after selling 100,398 shares during the quarter. Two Sigma Investments LP owned about 0.59% of McGrath RentCorp worth $16,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MGRC. Atala Financial Inc purchased a new stake in McGrath RentCorp in the 4th quarter worth approximately $31,000. New Age Alpha Advisors LLC bought a new position in McGrath RentCorp in the 4th quarter worth approximately $33,000. Canada Pension Plan Investment Board bought a new position in McGrath RentCorp in the 4th quarter worth approximately $89,000. KBC Group NV boosted its stake in McGrath RentCorp by 37.3% in 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 period. Finally, Focus Partners Wealth bought a new position in McGrath RentCorp in the 4th quarter worth approximately $136,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded McGrath RentCorp from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

Insider Activity

In other news, VP John P. Skenesky sold 2,500 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total value of $124,690.00. Following the transaction, the director now owns 7,500 shares of the company's stock, valued at $935,175. This represents a 11.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,871 shares of company stock worth $1,506,731. 1.60% of the stock is currently owned by insiders.

McGrath RentCorp Stock Down 1.2%

MGRC stock traded down $1.41 during midday trading on Wednesday, hitting $114.02. The company's stock had a trading volume of 20,599 shares, compared to its average volume of 144,982. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. The company has a 50 day moving average of $109.50 and a two-hundred day moving average of $115.22.

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 for the quarter, topping the consensus estimate of $1.02 by $0.13. The business had revenue of $195.42 million during the quarter, compared to the consensus estimate of $189.03 million. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 EPS. On average, analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

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.