Walthausen Lowers stake in McGrath RentCorp (MGRC)

McGrath RentCorp (MGRC) : Walthausen reduced its stake in McGrath RentCorp by 7.13% during the most recent quarter end. The investment management company now holds a total of 744,166 shares of McGrath RentCorp which is valued at $19.9 Million after selling 57,167 shares in McGrath RentCorp , the firm said in a disclosure report filed with the SEC on May 12, 2016.McGrath RentCorp makes up approximately 2.07% of Walthausen’s portfolio.

Other Hedge Funds, Including , Cornercap Investment Counsel Inc sold out all of its stake in MGRC during the most recent quarter. The investment firm sold 18,240 shares of MGRC which is valued $486,826.Nationwide Fund Advisors boosted its stake in MGRC in the latest quarter, The investment management firm added 39 additional shares and now holds a total of 19,511 shares of McGrath RentCorp which is valued at $510,018. Mondrian Investment Partners Ltd added MGRC to its portfolio by purchasing 144,711 company shares during the most recent quarter which is valued at $3.8 Million. McGrath RentCorp makes up approx 0.09% of Mondrian Investment Partners Ltd’s portfolio.Deprince Race Zollo Inc boosted its stake in MGRC in the latest quarter, The investment management firm added 336,587 additional shares and now holds a total of 1,201,519 shares of McGrath RentCorp which is valued at $31.4 Million. McGrath RentCorp makes up approx 0.62% of Deprince Race Zollo Inc’s portfolio.Rhumbline Advisers reduced its stake in MGRC by selling 12,710 shares or 22.19% in the most recent quarter. The Hedge Fund company now holds 44,570 shares of MGRC which is valued at $1.2 Million.

McGrath RentCorp opened for trading at $27.25 and hit $27.61 on the upside on Friday, eventually ending the session at $27.45, with a gain of 1.33% or 0.36 points. The heightened volatility saw the trading volume jump to 88,614 shares. Company has a market cap of $656,000 M.

On the company’s financial health, McGrath RentCorp reported $0.27 EPS for the quarter, based on the information available during the earnings call on May 3, 2016. Analyst had a consensus estimate of $0.27. The company had revenue of $93.70 million for the quarter, compared to analysts expectations of $92.18 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

McGrath RentCorp is a business-to-business rental company with three rental divisions: relocatable modular buildings electronic test equipment and liquid and solid containment tanks and boxes. The Company’s primary emphasis is on equipment rentals. However sales of equipment occur in the normal course of business. The Company is comprised of four business segments: modular building and portable storage rental division (Mobile Modular); electronic test equipment rental division (TRS-RenTelco); wholly owned subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids (Adler Tanks); and wholly owned subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex). The Mobile Modular business segment includes Mobile Modular Portable Storage.

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