Renaissance Technologies LLC Buys 44,900 Shares of McGrath RentCorp (MGRC)

Renaissance Technologies LLC increased its stake in McGrath RentCorp (NASDAQ:MGRC) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 694,795 shares of the financial services provider’s stock after buying an additional 44,900 shares during the period. Renaissance Technologies LLC owned 2.87% of McGrath RentCorp worth $43,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. BlueMountain Capital Management LLC grew its stake in shares of McGrath RentCorp by 46.6% in the 2nd quarter. BlueMountain Capital Management LLC now owns 30,725 shares of the financial services provider’s stock worth $1,944,000 after buying an additional 9,769 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in shares of McGrath RentCorp in the 2nd quarter worth approximately $564,000. BlackRock Inc. grew its stake in shares of McGrath RentCorp by 47.8% in the 2nd quarter. BlackRock Inc. now owns 2,189,646 shares of the financial services provider’s stock worth $138,539,000 after buying an additional 708,609 shares during the last quarter. GSA Capital Partners LLP boosted its stake in McGrath RentCorp by 16.7% during the 2nd quarter. GSA Capital Partners LLP now owns 19,140 shares of the financial services provider’s stock valued at $1,211,000 after purchasing an additional 2,732 shares during the last quarter. Finally, Swiss National Bank boosted its stake in McGrath RentCorp by 4.8% during the 2nd quarter. Swiss National Bank now owns 41,900 shares of the financial services provider’s stock valued at $2,651,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors own 82.92% of the company’s stock.

Shares of MGRC opened at $53.66 on Friday. McGrath RentCorp has a 12 month low of $40.15 and a 12 month high of $68.79. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Tuesday, July 31st. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. McGrath RentCorp had a return on equity of 11.91% and a net margin of 34.37%. The business had revenue of $117.00 million for the quarter, compared to the consensus estimate of $112.69 million. During the same period last year, the business posted $0.48 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. equities research analysts anticipate that McGrath RentCorp will post 2.73 earnings per share for the current year.

In other McGrath RentCorp news, VP John P. Skenesky sold 1,423 shares of the stock in a transaction on 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 approximately $95,667. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Several analysts have commented on the company. ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. BidaskClub downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Zacks Investment Research downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th.

McGrath RentCorp Company Profile

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

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