Rhumbline Advisers lowered its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,929 shares of the financial services provider’s stock after selling 1,436 shares during the quarter. Rhumbline Advisers owned 0.22% of McGrath RentCorp worth $1,798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of MGRC. Vanguard Group Inc. lifted its position in shares of McGrath RentCorp by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 2,093,570 shares of the financial services provider’s stock worth $70,282,000 after buying an additional 304,573 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of McGrath RentCorp by 36.5% during the 1st quarter. Renaissance Technologies LLC now owns 571,595 shares of the financial services provider’s stock worth $19,188,000 after buying an additional 152,800 shares in the last quarter. Kennedy Capital Management Inc. lifted its position in shares of McGrath RentCorp by 130.5% during the 1st quarter. Kennedy Capital Management Inc. now owns 97,030 shares of the financial services provider’s stock worth $3,257,000 after buying an additional 54,929 shares in the last quarter. Algert Global LLC bought a new position in shares of McGrath RentCorp during the 2nd quarter worth approximately $1,482,000. Finally, Deprince Race & Zollo Inc. lifted its position in shares of McGrath RentCorp by 4.1% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,073,688 shares of the financial services provider’s stock worth $36,044,000 after buying an additional 42,391 shares in the last quarter. 82.54% of the stock is currently owned by hedge funds and other institutional investors.

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McGrath RentCorp (NASDAQ:MGRC) opened at 40.69 on Monday. McGrath RentCorp has a 52-week low of $29.26 and a 52-week high of $41.61. The company has a market cap of $976.28 million, a PE ratio of 23.26 and a beta of 0.96. The firm’s 50 day moving average is $39.17 and its 200 day moving average is $35.39.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.10. The firm had revenue of $109.58 million for the quarter, compared to the consensus estimate of $105.36 million. McGrath RentCorp had a net margin of 9.74% and a return on equity of 10.62%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Analysts forecast that McGrath RentCorp will post $1.88 EPS for the current fiscal year.

Several equities analysts have commented on the stock. Zacks Investment Research raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Friday, June 9th. BidaskClub raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Monday, July 24th.

In related news, VP Kay Dashner sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the vice president now owns 6,998 shares in the company, valued at $279,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John P. Skenesky sold 7,561 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $38.47, for a total transaction of $290,871.67. Following the transaction, the vice president now owns 6,387 shares in the company, valued at approximately $245,707.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,265 shares of company stock worth $719,958. Insiders own 4.60% of the company’s stock.

McGrath RentCorp Company Profile

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).

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Institutional Ownership by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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