BNP Paribas Financial Markets Acquires 1,379 Shares of McGrath RentCorp (NASDAQ:MGRC)

BNP Paribas Financial Markets raised its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 12.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,632 shares of the financial services provider’s stock after purchasing an additional 1,379 shares during the period. BNP Paribas Financial Markets owned 0.05% of McGrath RentCorp worth $1,330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MGRC. River Road Asset Management LLC raised its holdings in shares of McGrath RentCorp by 68.2% during the third quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider’s stock valued at $131,324,000 after acquiring an additional 505,817 shares in the last quarter. Victory Capital Management Inc. raised its holdings in McGrath RentCorp by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 755,570 shares of the financial services provider’s stock worth $79,546,000 after purchasing an additional 47,872 shares in the last quarter. Alpine Associates Management Inc. raised its holdings in McGrath RentCorp by 9.8% in the 2nd quarter. Alpine Associates Management Inc. now owns 710,853 shares of the financial services provider’s stock worth $75,741,000 after purchasing an additional 63,366 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of McGrath RentCorp by 26.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 486,190 shares of the financial services provider’s stock worth $51,803,000 after purchasing an additional 100,210 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of McGrath RentCorp by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 287,261 shares of the financial services provider’s stock valued at $30,243,000 after purchasing an additional 8,428 shares in the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Trading Down 0.6 %

MGRC opened at $121.40 on Tuesday. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.71 and a beta of 0.75. The stock has a fifty day simple moving average of $114.77 and a two-hundred day simple moving average of $109.24. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.48. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The company had revenue of $266.76 million during the quarter, compared to analyst estimates of $227.76 million. During the same period last year, the business earned $1.65 EPS. McGrath RentCorp’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that McGrath RentCorp will post 5.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. StockNews.com upgraded McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

Insider Activity

In other McGrath RentCorp news, CEO Joseph F. Hanna sold 15,840 shares of McGrath RentCorp stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $119.88, for a total transaction of $1,898,899.20. Following the completion of the transaction, the chief executive officer now owns 155,409 shares in the company, valued at approximately $18,630,430.92. The trade was a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David M. Whitney sold 5,176 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $117.00, for a total value of $605,592.00. Following the completion of the sale, the vice president now directly owns 205 shares in the company, valued at $23,985. This trade represents a 96.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,016 shares of company stock worth $5,493,411. Insiders own 1.60% of the company’s stock.

McGrath RentCorp 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.