Comerica Bank raised its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,046 shares of the financial services provider’s stock after buying an additional 3,803 shares during the quarter. Comerica Bank owned about 0.30% of McGrath RentCorp worth $2,521,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in shares of McGrath RentCorp by 2.4% during the second quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock worth $252,000 after buying an additional 172 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of McGrath RentCorp by 3.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 162,836 shares of the financial services provider’s stock worth $5,640,000 after buying an additional 4,754 shares in the last quarter. Algert Global LLC purchased a new stake in shares of McGrath RentCorp during the second quarter worth $1,482,000. Russell Investments Group Ltd. grew its holdings in shares of McGrath RentCorp by 2.1% during the second quarter. Russell Investments Group Ltd. now owns 360,034 shares of the financial services provider’s stock worth $12,468,000 after buying an additional 7,507 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of McGrath RentCorp by 17,333.3% during the second quarter. US Bancorp DE now owns 4,184 shares of the financial services provider’s stock worth $145,000 after buying an additional 4,160 shares in the last quarter. 82.54% of the stock is owned by institutional investors and hedge funds.

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Shares of McGrath RentCorp (MGRC) opened at 39.34 on Wednesday. The stock has a market cap of $943.88 million, a price-to-earnings ratio of 22.49 and a beta of 0.96. The company has a 50 day moving average of $37.78 and a 200-day moving average of $35.19. McGrath RentCorp has a one year low of $29.26 and a one year high of $41.61.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. The firm had revenue of $109.58 million during the quarter, compared to analysts’ expectations of $105.36 million. McGrath RentCorp had a return on equity of 10.62% and a net margin of 9.74%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. On average, analysts anticipate that McGrath RentCorp will post $1.88 earnings per share for the current year.

A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Saturday, August 5th.

In related news, VP Keith E. Pratt sold 3,261 shares of McGrath RentCorp stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $40.73, for a total transaction of $132,820.53. Following the completion of the sale, the vice president now owns 26,000 shares in the company, valued at approximately $1,058,980. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John P. Skenesky sold 7,561 shares of McGrath RentCorp stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $38.47, for a total value of $290,871.67. Following the sale, the vice president now owns 6,387 shares of the company’s stock, valued at approximately $245,707.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,322 shares of company stock valued at $523,692. 4.60% of the stock is currently owned by company insiders.

McGrath RentCorp Company Profile

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).

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Institutional Ownership by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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