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McGrath RentCorp (NASDAQ:MGRC - Get Rating) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report released on Friday.

Shares of NASDAQ MGRC opened at $76.00 on Friday. The firm has a 50-day simple moving average of $80.31 and a 200-day simple moving average of $80.18. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 1.87 and a beta of 0.79. McGrath RentCorp has a 52 week low of $67.08 and a 52 week high of $91.37.

McGrath RentCorp (NASDAQ:MGRC - Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.20. McGrath RentCorp had a net margin of 14.21% and a return on equity of 12.65%. The firm had revenue of $145.37 million during the quarter, compared to analyst estimates of $146.41 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. McGrath RentCorp's quarterly revenue was up 19.9% on a year-over-year basis. Equities research analysts expect that McGrath RentCorp will post 4.06 earnings per share for the current fiscal year.

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In related news, VP John P. Skenesky sold 2,000 shares of McGrath RentCorp stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $81.74, for a total value of $163,480.00. Following the completion of the transaction, the vice president now owns 12,184 shares in the company, valued at $995,920.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis P. Stradford sold 1,000 shares of McGrath RentCorp stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $83.20, for a total transaction of $83,200.00. Following the completion of the transaction, the director now owns 9,200 shares of the company's stock, valued at approximately $765,440. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,400 shares of company stock valued at $361,690. Company insiders own 2.00% of the company's stock.

Hedge funds have recently made changes to their positions in the stock. DB Wealth Management Group LLC acquired a new position in shares of McGrath RentCorp in the first quarter valued at approximately $26,000. Lazard Asset Management LLC purchased a new position in McGrath RentCorp in the first quarter worth approximately $51,000. Pinebridge Investments L.P. purchased a new position in McGrath RentCorp in the fourth quarter worth approximately $80,000. Allspring Global Investments Holdings LLC purchased a new position in McGrath RentCorp in the fourth quarter worth approximately $122,000. Finally, PNC Financial Services Group Inc. purchased a new position in McGrath RentCorp in the first quarter worth approximately $168,000. Hedge funds and other institutional investors own 92.27% of the company's stock.

About McGrath RentCorp (Get Rating)

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, electronic test equipment and related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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