McGrath RentCorp (MGRC) Shares Sold by Brown Advisory Inc.
Brown Advisory Inc. cut its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,431,381 shares of the financial services provider’s stock after selling 30,106 shares during the quarter. Brown Advisory Inc. owned 5.96% of McGrath RentCorp worth $62,624,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of MGRC. Macquarie Group Ltd. acquired a new position in shares of McGrath RentCorp in the 3rd quarter worth $121,000. SG Americas Securities LLC acquired a new position in shares of McGrath RentCorp in the 3rd quarter worth $142,000. US Bancorp DE grew its holdings in shares of McGrath RentCorp by 17,333.3% in the 2nd quarter. US Bancorp DE now owns 4,184 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 4,160 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of McGrath RentCorp by 260.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 3,241 shares during the last quarter. Finally, Thrivent Financial For Lutherans acquired a new position in shares of McGrath RentCorp in the 2nd quarter worth $246,000. Institutional investors own 82.62% of the company’s stock.
A number of equities analysts recently issued reports on the company. Zacks Investment Research cut McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub upgraded McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Oppenheimer restated a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st.
In related news, VP Trease Kristina Van sold 1,043 shares of McGrath RentCorp stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $39.82, for a total transaction of $41,532.26. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $755,504.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dennis P. Stradford sold 3,900 shares of McGrath RentCorp stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $49.41, for a total value of $192,699.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $247,050. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,602 shares of company stock valued at $805,142. 4.60% of the stock is currently owned by insiders.
Shares of McGrath RentCorp (NASDAQ MGRC) traded down $1.08 during trading on Friday, hitting $47.80. The stock had a trading volume of 60,100 shares, compared to its average volume of 74,542. The firm has a market capitalization of $1,159.31, a PE ratio of 25.39, a PEG ratio of 2.36 and a beta of 0.99. McGrath RentCorp has a 1-year low of $32.09 and a 1-year high of $49.66.
McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.12. The business had revenue of $135.39 million during the quarter, compared to analysts’ expectations of $124.90 million. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. McGrath RentCorp’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. equities analysts forecast that McGrath RentCorp will post 2.04 EPS for the current year.
McGrath RentCorp 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).
Want to see what other hedge funds are holding MGRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McGrath RentCorp (NASDAQ:MGRC).
Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with Analyst Ratings Network's FREE daily email newsletter.