McGrath RentCorp (NASDAQ:MGRC) Holdings Lowered by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. decreased its position in McGrath RentCorp (NASDAQ:MGRC) by 51.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 585 shares of the financial services provider’s stock after selling 611 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in McGrath RentCorp were worth $62,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in McGrath RentCorp by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,391 shares of the financial services provider’s stock worth $32,105,000 after buying an additional 5,792 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of McGrath RentCorp by 33.4% during the fourth quarter. Principal Financial Group Inc. now owns 9,667 shares of the financial services provider’s stock valued at $1,156,000 after purchasing an additional 2,418 shares during the last quarter. Forum Financial Management LP acquired a new position in shares of McGrath RentCorp in the 4th quarter valued at $230,000. Vanguard Personalized Indexing Management LLC purchased a new position in McGrath RentCorp in the 4th quarter worth about $217,000. Finally, Norges Bank purchased a new position in McGrath RentCorp in the 4th quarter worth about $19,469,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 3rd.

McGrath RentCorp Stock Down 0.5 %

Shares of NASDAQ:MGRC opened at $101.88 on Monday. The company has a market cap of $2.50 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 1.44 and a beta of 0.76. The company’s fifty day moving average is $106.75 and its two-hundred day moving average is $111.23. McGrath RentCorp has a 12-month low of $95.71 and a 12-month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.41). McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. The business had revenue of $212.60 million during the quarter, compared to analysts’ expectations of $210.23 million. During the same period in the prior year, the company posted $1.14 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that McGrath RentCorp will post 5.45 earnings per share 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.