McGrath RentCorp (NASDAQ:MGRC) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 2.1% in the third quarter, HoldingsChannel.com reports. The fund owned 64,789 shares of the financial services provider’s stock after selling 1,403 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in McGrath RentCorp were worth $6,821,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MGRC. FORA Capital LLC purchased a new position in shares of McGrath RentCorp during the 3rd quarter valued at about $421,000. BNP Paribas Financial Markets raised its stake in shares of McGrath RentCorp by 12.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,632 shares of the financial services provider’s stock valued at $1,330,000 after buying an additional 1,379 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of McGrath RentCorp during the 3rd quarter valued at about $596,000. FMR LLC raised its stake in shares of McGrath RentCorp by 3,120.0% during the 3rd quarter. FMR LLC now owns 116,791 shares of the financial services provider’s stock valued at $12,296,000 after buying an additional 113,164 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of McGrath RentCorp in the 3rd quarter valued at about $816,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insiders Place Their Bets

In related news, Director William J. Dawson sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $115.00, for a total transaction of $2,300,000.00. Following the completion of the sale, the director now owns 4,000 shares of the company’s stock, valued at approximately $460,000. This represents a 83.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David M. Whitney sold 5,176 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $117.00, for a total transaction of $605,592.00. Following the sale, the vice president now directly owns 205 shares of the company’s stock, valued at approximately $23,985. This represents a 96.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,016 shares of company stock valued at $5,493,411 in the last 90 days. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

MGRC has been the subject of several recent analyst reports. StockNews.com upgraded McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their price target on McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

McGrath RentCorp Stock Down 1.1 %

Shares of McGrath RentCorp stock opened at $120.09 on Wednesday. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $130.86. The business has a 50-day moving average price of $115.06 and a 200 day moving average price of $109.31. The firm has a market cap of $2.95 billion, a PE ratio of 13.12, a P/E/G ratio of 1.71 and a beta of 0.75.

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