Janus Henderson Group PLC Sells 19,157 Shares of McGrath RentCorp (NASDAQ:MGRC)

Janus Henderson Group PLC decreased its position in McGrath RentCorp (NASDAQ:MGRC) by 33.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 37,919 shares of the financial services provider’s stock after selling 19,157 shares during the quarter. Janus Henderson Group PLC’s holdings in McGrath RentCorp were worth $3,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB grew its position in shares of McGrath RentCorp by 66.7% during the 2nd quarter. Swedbank AB now owns 200,000 shares of the financial services provider’s stock worth $21,310,000 after buying an additional 80,000 shares during the period. Blue Trust Inc. acquired a new stake in shares of McGrath RentCorp in the 2nd quarter valued at approximately $383,000. Vaughan Nelson Investment Management L.P. boosted its stake in McGrath RentCorp by 26.0% during 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 acquiring an additional 100,210 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in McGrath RentCorp by 20.6% in the second quarter. Bank of New York Mellon Corp now owns 186,898 shares of the financial services provider’s stock worth $19,914,000 after purchasing an additional 31,893 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in McGrath RentCorp by 4.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,085 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 256 shares during the period. 92.05% of the stock is owned by institutional investors.

McGrath RentCorp Stock Down 1.1 %

McGrath RentCorp stock opened at $120.09 on Wednesday. The company has a 50 day moving average of $115.06 and a 200-day moving average of $109.31. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $130.86. The stock has a market capitalization of $2.95 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.71 and a beta of 0.75.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director William J. Dawson sold 20,000 shares of the 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 transaction, the director now directly owns 4,000 shares in the company, valued at $460,000. This represents a 83.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David M. Whitney sold 5,176 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $117.00, for a total value of $605,592.00. Following the completion of the transaction, the vice president now owns 205 shares of the company’s stock, valued at $23,985. The trade was a 96.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,016 shares of company stock worth $5,493,411. 1.60% of the stock is owned by corporate insiders.

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.