Two Sigma Advisers LP increased its stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 125.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,962 shares of the financial services provider's stock after buying an additional 58,500 shares during the period. Two Sigma Advisers LP owned about 0.43% of McGrath RentCorp worth $11,050,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MGRC. River Road Asset Management LLC increased its position in shares of McGrath RentCorp by 68.2% in the 3rd quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider's stock worth $131,324,000 after purchasing an additional 505,817 shares during the last quarter. Walleye Capital LLC acquired a new position in McGrath RentCorp in the third quarter worth about $15,967,000. Clearline Capital LP bought a new stake in McGrath RentCorp in the third quarter valued at about $11,976,000. FMR LLC raised its stake in McGrath RentCorp by 3,120.0% during the third quarter. FMR LLC now owns 116,791 shares of the financial services provider's stock valued at $12,296,000 after buying an additional 113,164 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in McGrath RentCorp by 26.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 486,190 shares of the financial services provider's stock worth $51,803,000 after buying an additional 100,210 shares during the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Joseph F. Hanna sold 15,840 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $119.88, for a total value of $1,898,899.20. Following the sale, the chief executive officer now owns 155,409 shares of the company's stock, valued at $18,630,430.92. This trade represents a 9.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $114.62, for a total transaction of $114,620.00. Following the transaction, the director now directly owns 7,500 shares of the company's stock, valued at $859,650. The trade was a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,016 shares of company stock worth $5,493,411. 1.60% of the stock is owned by insiders.

MGRC opened at $121.40 on Tuesday. The company's 50-day moving average price is $114.77 and its 200 day moving average price is $109.24. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $130.86. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.71 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.48. McGrath RentCorp had a return on equity of 13.64% and a net margin of 25.29%. The business had revenue of $266.76 million for the quarter, compared to the consensus estimate of $227.76 million. During the same quarter last year, the business posted $1.65 EPS. The business's revenue was up 9.5% on a year-over-year basis. Research analysts anticipate that McGrath RentCorp will post 5.5 earnings per share for the current year.

MGRC has been the subject of a number of research analyst reports. StockNews.com upgraded McGrath RentCorp from a "sell" rating to a "hold" rating in a report on Tuesday, October 22nd. Oppenheimer boosted their target price on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd.

View Our Latest Report on McGrath RentCorp

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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