Evoke Wealth LLC Makes New Investment in McGrath RentCorp (NASDAQ:MGRC)

Evoke Wealth LLC bought a new position in shares of McGrath RentCorp (NASDAQ:MGRCFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,796 shares of the financial services provider’s stock, valued at approximately $454,000.

Other institutional investors also recently bought and sold shares of the company. Allianz Asset Management GmbH increased its stake in McGrath RentCorp by 0.4% in the fourth quarter. Allianz Asset Management GmbH now owns 24,967 shares of the financial services provider’s stock valued at $2,987,000 after purchasing an additional 90 shares during the last quarter. Quest Partners LLC acquired a new stake in McGrath RentCorp during the fourth quarter worth about $372,000. Trexquant Investment LP acquired a new stake in McGrath RentCorp during the fourth quarter worth about $1,460,000. Clearbridge Investments LLC increased its stake in McGrath RentCorp by 48.1% during the fourth quarter. Clearbridge Investments LLC now owns 304,419 shares of the financial services provider’s stock worth $36,415,000 after acquiring an additional 98,851 shares during the last quarter. Finally, UBS Group AG increased its stake in McGrath RentCorp by 21.7% during the fourth quarter. UBS Group AG now owns 74,639 shares of the financial services provider’s stock worth $8,928,000 after acquiring an additional 13,313 shares during the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on McGrath RentCorp in a research report on Monday, May 6th. They issued a “hold” rating for the company.

View Our Latest Report on MGRC

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $108.98 on Monday. McGrath RentCorp has a 1-year low of $87.72 and a 1-year high of $130.86. The business has a 50-day moving average of $113.01 and a 200-day moving average of $115.09. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.66 and a beta of 0.79.

McGrath RentCorp (NASDAQ:MGRCGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.20. The firm had revenue of $187.80 million during the quarter, compared to the consensus estimate of $145.63 million. McGrath RentCorp had a return on equity of 13.43% and a net margin of 14.70%. McGrath RentCorp’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 earnings per share. Research analysts expect that McGrath RentCorp will post 5.05 EPS for the current fiscal 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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Institutional Ownership by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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