Voloridge Investment Management LLC trimmed its holdings in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 36.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,422 shares of the financial services provider's stock after selling 24,037 shares during the period. Voloridge Investment Management LLC owned approximately 0.17% of McGrath RentCorp worth $4,632,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in MGRC. Barclays PLC increased its holdings in shares of McGrath RentCorp by 351.6% during the 3rd quarter. Barclays PLC now owns 40,555 shares of the financial services provider's stock valued at $4,269,000 after purchasing an additional 31,575 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in McGrath RentCorp by 4.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider's stock worth $933,000 after purchasing an additional 357 shares during the last quarter. KBC Group NV boosted its position in shares of McGrath RentCorp by 37.3% during the 4th quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 286 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of McGrath RentCorp by 12.9% during the 4th quarter. Hantz Financial Services Inc. now owns 21,939 shares of the financial services provider's stock valued at $2,453,000 after acquiring an additional 2,506 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of McGrath RentCorp by 30.0% during the 4th quarter. Swedbank AB now owns 325,000 shares of the financial services provider's stock valued at $36,342,000 after acquiring an additional 75,000 shares during the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at McGrath RentCorp
In other McGrath RentCorp news, CEO Joseph F. Hanna sold 5,567 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $108.89, for a total value of $606,190.63. Following the completion of the sale, the chief executive officer now owns 176,897 shares of the company's stock, valued at $19,262,314.33. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John P. Skenesky sold 2,500 shares of the firm's 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 sale, the vice president now directly owns 8,692 shares of the company's stock, valued at $967,593.44. The trade was a 22.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,871 shares of company stock valued at $1,382,041 in the last 90 days. 1.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.
View Our Latest Analysis on MGRC
McGrath RentCorp Price Performance
Shares of MGRC stock traded down $0.62 during trading hours on Friday, hitting $112.74. The stock had a trading volume of 109,133 shares, compared to its average volume of 182,502. The stock's 50 day moving average is $109.36 and its 200 day moving average is $115.07. 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 $2.77 billion, a PE ratio of 11.96, a PEG ratio of 1.35 and a beta of 0.66.
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 for the quarter, beating analysts' consensus estimates of $1.02 by $0.13. The firm 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%. McGrath RentCorp's quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. As a group, equities analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current year.
About McGrath RentCorp
(
Free Report)
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.
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