Silvercrest Asset Management Group LLC Increases Stock Position in McGrath RentCorp (NASDAQ:MGRC)

Silvercrest Asset Management Group LLC grew its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 333,046 shares of the financial services provider's stock after acquiring an additional 36,057 shares during the period. Silvercrest Asset Management Group LLC owned about 1.36% of McGrath RentCorp worth $37,241,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Eminence Capital LP purchased a new stake in McGrath RentCorp in the 4th quarter worth $83,898,000. River Road Asset Management LLC lifted its stake in McGrath RentCorp by 52.1% in the 4th quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider's stock valued at $212,116,000 after buying an additional 649,567 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in McGrath RentCorp during the 4th quarter worth approximately $13,179,000. Neumeier Poma Investment Counsel LLC raised its holdings in shares of McGrath RentCorp by 127.1% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 204,806 shares of the financial services provider's stock valued at $22,901,000 after acquiring an additional 114,626 shares during the last quarter. Finally, Algert Global LLC raised its holdings in shares of McGrath RentCorp by 729.1% during the fourth quarter. Algert Global LLC now owns 118,660 shares of the financial services provider's stock valued at $13,269,000 after acquiring an additional 104,348 shares during the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction dated 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 directly owns 7,500 shares in the company, valued at $935,175. The trade was a 11.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Philip B. Hawkins sold 4,804 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $103.57, for a total transaction of $497,550.28. Following the sale, the chief operating officer now owns 3,150 shares of the company's stock, valued at $326,245.50. This represents a 60.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,871 shares of company stock worth $1,506,731 in the last three months. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

McGrath RentCorp Price Performance

NASDAQ MGRC traded up $0.09 during trading hours on Thursday, hitting $113.57. 31,833 shares of the company's stock traded hands, compared to its average volume of 181,081. The company has a market capitalization of $2.80 billion, a PE ratio of 12.04, a PEG ratio of 1.35 and a beta of 0.66. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93. The firm's 50-day moving average is $109.54 and its 200-day moving average is $115.39.

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, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $189.03 million. During the same period in the prior year, the business earned $0.93 earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. Equities research analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Company 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.