Charles Schwab Investment Management Inc. Increases Stake in McGrath RentCorp (NASDAQ:MGRC)

Charles Schwab Investment Management Inc. raised its holdings in shares of McGrath RentCorp (NASDAQ:MGRCFree Report) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 268,391 shares of the financial services provider’s stock after purchasing an additional 5,792 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.10% of McGrath RentCorp worth $32,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of McGrath RentCorp by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,679,998 shares of the financial services provider’s stock valued at $268,643,000 after buying an additional 22,273 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of McGrath RentCorp by 50.7% in the third quarter. Wellington Management Group LLP now owns 621,008 shares of the financial services provider’s stock worth $62,250,000 after acquiring an additional 208,819 shares during the period. American Century Companies Inc. grew its position in shares of McGrath RentCorp by 2.0% in the third quarter. American Century Companies Inc. now owns 249,587 shares of the financial services provider’s stock valued at $25,019,000 after purchasing an additional 4,984 shares in the last quarter. FMR LLC raised its stake in shares of McGrath RentCorp by 27.3% during the 3rd quarter. FMR LLC now owns 238,474 shares of the financial services provider’s stock valued at $23,905,000 after purchasing an additional 51,124 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in McGrath RentCorp during the 4th quarter worth about $25,329,000. Institutional investors own 92.05% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on McGrath RentCorp in a research report on Monday, May 6th. They set a “hold” rating on the stock.

Get Our Latest Stock Report on MGRC

McGrath RentCorp Stock Performance

McGrath RentCorp stock opened at $112.73 on Wednesday. McGrath RentCorp has a fifty-two week low of $87.72 and a fifty-two week high of $130.86. The stock has a market cap of $2.77 billion, a P/E ratio of 21.97, a PEG ratio of 1.70 and a beta of 0.82. The firm’s fifty day moving average price is $114.71 and its 200-day moving average price is $114.59.

McGrath RentCorp (NASDAQ:MGRCGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.20. The firm had revenue of $187.80 million for the quarter, compared to analysts’ expectations of $145.63 million. McGrath RentCorp had a return on equity of 13.43% and a net margin of 14.70%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 EPS. Sell-side analysts predict that McGrath RentCorp will post 5.05 earnings per share for the current year.

About McGrath RentCorp

(Free Report)

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.

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

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