LSV Asset Management Has $790,000 Position in McGrath RentCorp (MGRC)
LSV Asset Management reduced its stake in McGrath RentCorp (NASDAQ:MGRC) by 34.9% in the 2nd quarter, Holdings Channel reports. The firm owned 12,500 shares of the financial services provider’s stock after selling 6,700 shares during the period. LSV Asset Management’s holdings in McGrath RentCorp were worth $790,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of MGRC. SG Americas Securities LLC acquired a new stake in McGrath RentCorp in the 1st quarter worth approximately $195,000. Element Capital Management LLC acquired a new stake in McGrath RentCorp in the 1st quarter worth approximately $200,000. Osterweis Capital Management Inc. acquired a new stake in McGrath RentCorp in the 1st quarter worth approximately $211,000. Lido Advisors LLC acquired a new stake in McGrath RentCorp in the 1st quarter worth approximately $226,000. Finally, Amalgamated Bank acquired a new stake in McGrath RentCorp in the 2nd quarter worth approximately $233,000. Hedge funds and other institutional investors own 82.87% of the company’s stock.
In other news, VP John P. Skenesky sold 1,614 shares of the company’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $67.39, for a total transaction of $108,767.46. Following the completion of the transaction, the vice president now directly owns 1,716 shares in the company, valued at $115,641.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Keith E. Pratt sold 2,840 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $65.52, for a total value of $186,076.80. Following the transaction, the chief financial officer now owns 25,382 shares of the company’s stock, valued at $1,663,028.64. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
MGRC opened at $57.48 on Friday. McGrath RentCorp has a twelve month low of $38.32 and a twelve month high of $68.79. The company has a market capitalization of $1.37 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.08 and a beta of 0.84.
McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Tuesday, July 31st. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. McGrath RentCorp had a return on equity of 11.91% and a net margin of 34.37%. The company had revenue of $117.00 million during the quarter, compared to analyst estimates of $112.69 million. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. analysts predict that McGrath RentCorp will post 2.73 earnings per share for the current year.
McGrath RentCorp Company Profile
McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
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