McGrath RentCorp (NASDAQ:MGRC) Holdings Reduced by Jane Street Group LLC

Jane Street Group LLC decreased its position in McGrath RentCorp (NASDAQ:MGRC) by 93.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,513 shares of the financial services provider’s stock after selling 36,658 shares during the period. Jane Street Group LLC’s holdings in McGrath RentCorp were worth $281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of McGrath RentCorp by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider’s stock valued at $304,836,000 after acquiring an additional 29,467 shares in the last quarter. River Road Asset Management LLC lifted its position in shares of 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 acquiring an additional 649,567 shares in the last quarter. Franklin Resources Inc. lifted its position in McGrath RentCorp by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 1,199,169 shares of the financial services provider’s stock worth $134,091,000 after buying an additional 87,329 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in McGrath RentCorp by 11.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 917,631 shares of the financial services provider’s stock worth $102,610,000 after buying an additional 97,290 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in McGrath RentCorp by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 788,760 shares of the financial services provider’s stock worth $88,198,000 after buying an additional 50,674 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors.

Insider Activity

In other McGrath RentCorp news, VP John P. Skenesky sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $111.32, for a total value of $278,300.00. Following the completion of the transaction, the vice president now directly owns 8,692 shares of the company’s stock, valued at approximately $967,593.44. The trade was a 22.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Philip B. Hawkins sold 4,804 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $103.57, for a total transaction of $497,550.28. Following the completion of the transaction, the chief operating officer now directly owns 3,150 shares of the company’s stock, valued at approximately $326,245.50. This represents a 60.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,871 shares of company stock worth $1,382,041. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Friday, April 25th.

McGrath RentCorp Price Performance

NASDAQ MGRC opened at $116.29 on Wednesday. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.35 and a beta of 0.66. The company’s fifty day moving average is $109.34 and its two-hundred day moving average is $115.03. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.13. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The company had revenue of $195.42 million for the quarter, compared to analyst estimates of $189.03 million. During the same period last year, the business posted $0.93 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts expect 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.