New York Life Investment Management LLC lessened its stake in McGrath RentCorp (NASDAQ:MGRC – Free Report) by 13.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,810 shares of the financial services provider’s stock after selling 607 shares during the quarter. New York Life Investment Management LLC’s holdings in McGrath RentCorp were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP grew its position in shares of McGrath RentCorp by 210.0% during the 1st quarter. Dark Forest Capital Management LP now owns 310 shares of the financial services provider’s stock worth $29,000 after buying an additional 210 shares during the period. Adirondack Trust Co. acquired a new stake in shares of McGrath RentCorp during the 3rd quarter worth approximately $50,000. Allspring Global Investments Holdings LLC grew its position in shares of McGrath RentCorp by 37.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 575 shares of the financial services provider’s stock worth $53,000 after buying an additional 158 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of McGrath RentCorp during the 1st quarter worth approximately $51,000. Finally, Tower Research Capital LLC TRC grew its position in shares of McGrath RentCorp by 211.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 607 shares of the financial services provider’s stock worth $57,000 after buying an additional 412 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.
McGrath RentCorp Stock Performance
Shares of MGRC opened at $129.95 on Monday. McGrath RentCorp has a twelve month low of $85.63 and a twelve month high of $130.57. The firm’s 50 day moving average price is $115.41 and its two-hundred day moving average price is $105.33. The firm has a market cap of $3.18 billion, a P/E ratio of 17.47, a PEG ratio of 1.85 and a beta of 0.83.
McGrath RentCorp Dividend Announcement
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on shares of McGrath RentCorp in a report on Thursday. They set a “hold” rating for the company.
About McGrath RentCorp
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, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates through Mobile Modular, TRS-RenTelco, and Enviroplex segments.
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