Teacher Retirement System of Texas increased its position in McGrath RentCorp (NASDAQ:MGRC – Get Rating) by 152.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,650 shares of the financial services provider’s stock after acquiring an additional 13,087 shares during the quarter. Teacher Retirement System of Texas owned about 0.09% of McGrath RentCorp worth $2,138,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates acquired a new position in McGrath RentCorp in the first quarter valued at about $4,262,000. PNC Financial Services Group Inc. acquired a new stake in McGrath RentCorp in the first quarter valued at $168,000. MetLife Investment Management LLC raised its position in shares of McGrath RentCorp by 59.7% in the first quarter. MetLife Investment Management LLC now owns 12,823 shares of the financial services provider’s stock valued at $1,090,000 after purchasing an additional 4,793 shares during the period. Sei Investments Co. increased its position in McGrath RentCorp by 9.2% during the first quarter. Sei Investments Co. now owns 4,685 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 396 shares during the period. Finally, Prudential Financial Inc. bought a new position in McGrath RentCorp in the 1st quarter valued at about $201,000. Institutional investors own 82.90% of the company’s stock.
Analyst Ratings Changes
Several research analysts have issued reports on MGRC shares. Oppenheimer raised their price target on shares of McGrath RentCorp from $107.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, February 23rd. StockNews.com downgraded shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Saturday, May 13th.
McGrath RentCorp Stock Up 3.9 %
Insiders Place Their Bets
In other news, VP Tara Wescott sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $91.31, for a total transaction of $109,572.00. Following the sale, the vice president now directly owns 753 shares of the company’s stock, valued at approximately $68,756.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Tara Wescott sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $91.31, for a total transaction of $109,572.00. Following the sale, the vice president now owns 753 shares of the company’s stock, valued at $68,756.43. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dennis P. Stradford sold 1,700 shares of the firm’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $97.88, for a total value of $166,396.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $734,100. The disclosure for this sale can be found here. Insiders sold 9,924 shares of company stock worth $956,924 in the last three months. 1.60% of the stock is owned by company insiders.
McGrath RentCorp Profile
McGrath RentCorp engages in the provision of business-to-business rental services. It operates through the following segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex. The Mobile Modular segment is engaged in modular building and portable storage. The TRS-RenTelco segment includes operations for its electronic test equipment.
Read More
- Get a free copy of the StockNews.com research report on McGrath RentCorp (MGRC)
- Will Nvidia Be the Lifeline Intel Desperately Needs?
- Is Li Auto Head and Shoulders Above Its Chinese Counterparts?
- MarketBeat Week in Review – 5/29 – 6/2
- Trading Channel Breakout in Lululemon Brought by Earnings
- What Should Investors Make of These 3 Dividend Cuts?
Want to see what other hedge funds are holding MGRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McGrath RentCorp (NASDAQ:MGRC – Get Rating).
Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.
