McGrath RentCorp (MGRC) Holdings Cut by Citadel Advisors LLC
Citadel Advisors LLC lessened its holdings in McGrath RentCorp (NASDAQ:MGRC) by 12.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,940 shares of the financial services provider’s stock after selling 4,449 shares during the period. Citadel Advisors LLC owned about 0.13% of McGrath RentCorp worth $2,021,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in MGRC. BlackRock Inc. grew its position in McGrath RentCorp by 47.8% in the second quarter. BlackRock Inc. now owns 2,189,646 shares of the financial services provider’s stock valued at $138,539,000 after acquiring an additional 708,609 shares during the last quarter. Franklin Resources Inc. grew its position in McGrath RentCorp by 22.2% in the first quarter. Franklin Resources Inc. now owns 1,990,445 shares of the financial services provider’s stock valued at $106,867,000 after acquiring an additional 361,840 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in McGrath RentCorp by 1,989.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 159,430 shares of the financial services provider’s stock valued at $10,087,000 after acquiring an additional 151,800 shares during the last quarter. Acadian Asset Management LLC bought a new position in McGrath RentCorp in the second quarter valued at about $8,301,000. Finally, Matarin Capital Management LLC bought a new position in McGrath RentCorp in the first quarter valued at about $6,314,000. Hedge funds and other institutional investors own 82.87% of the company’s stock.
MGRC has been the topic of a number of recent analyst reports. BidaskClub cut McGrath RentCorp from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 8th. Zacks Investment Research cut McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, ValuEngine cut McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Monday, July 30th.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Tuesday, July 31st. The financial services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $117.00 million for the quarter, compared to analysts’ expectations of $112.69 million. McGrath RentCorp had a return on equity of 11.91% and a net margin of 34.37%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 earnings per share. research analysts anticipate that McGrath RentCorp will post 2.73 EPS for the current year.
In other news, VP John P. Skenesky sold 1,423 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $55.75, for a total transaction of $79,332.25. Following the sale, the vice president now directly owns 1,716 shares in the company, valued at $95,667. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Keith E. Pratt sold 2,840 shares of the business’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $65.52, for a total value of $186,076.80. Following the sale, the chief financial officer now owns 25,382 shares in the company, valued at $1,663,028.64. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
About McGrath RentCorp
McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
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