McGrath RentCorp (NASDAQ:MGRC) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its holdings in shares of McGrath RentCorp (NASDAQ:MGRC – Get Rating) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,626 shares of the financial services provider’s stock after selling 986 shares during the period. Raymond James & Associates owned approximately 0.19% of McGrath RentCorp worth $4,505,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc acquired a new position in McGrath RentCorp during the fourth quarter worth $52,000. Lazard Asset Management LLC purchased a new stake in McGrath RentCorp during the third quarter worth $48,000. Parallel Advisors LLC boosted its position in McGrath RentCorp by 32.1% during the fourth quarter. Parallel Advisors LLC now owns 622 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 151 shares in the last quarter. FMR LLC boosted its position in McGrath RentCorp by 14.1% during the second quarter. FMR LLC now owns 978 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 121 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in McGrath RentCorp during the second quarter worth $90,000. Institutional investors and hedge funds own 82.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MGRC. StockNews.com downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. Oppenheimer boosted their target price on McGrath RentCorp from $107.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. Finally, Sidoti upgraded McGrath RentCorp from a “neutral” rating to a “buy” rating and set a $127.00 price objective on the stock in a research report on Thursday, February 2nd.

McGrath RentCorp Stock Up 0.2 %

Shares of NASDAQ:MGRC opened at $91.36 on Wednesday. McGrath RentCorp has a 52-week low of $73.29 and a 52-week high of $111.70. The stock’s fifty day simple moving average is $90.53 and its 200-day simple moving average is $96.19. The company has a market capitalization of $2.24 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.94 and a beta of 0.78.

McGrath RentCorp (NASDAQ:MGRC – Get Rating) last released its earnings results on Wednesday, February 22nd. The financial services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.28. McGrath RentCorp had a return on equity of 14.82% and a net margin of 22.34%. The firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $201.16 million. During the same period in the prior year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, sell-side analysts anticipate that McGrath RentCorp will post 4.72 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Trease Kristina Van sold 2,646 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $104.01, for a total transaction of $275,210.46. Following the transaction, the vice president now directly owns 6,411 shares in the company, valued at $666,808.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other McGrath RentCorp news, Director Kimberly Ann Box sold 500 shares of the company’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $103.39, for a total transaction of $51,695.00. Following the completion of the sale, the director now directly owns 5,800 shares in the company, valued at $599,662. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Trease Kristina Van sold 2,646 shares of the company’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $104.01, for a total value of $275,210.46. Following the sale, the vice president now owns 6,411 shares of the company’s stock, valued at $666,808.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,070 shares of company stock worth $1,283,830. 2.00% of the stock is owned by company insiders.

About McGrath RentCorp

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McGrath RentCorp engages in the provision of business-to-business rental services. It operates through the following segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex. The Mobile Modular segment is engaged in modular building and portable storage. The TRS-RenTelco segment includes operations for its electronic test equipment.