McGrath RentCorp (MGRC) : Mondrian Investment Partners Ltd reduced its stake in McGrath RentCorp by 7.87% during the most recent quarter end. The investment management company now holds a total of 133,327 shares of McGrath RentCorp which is valued at $4,194,467 after selling 11,384 shares in McGrath RentCorp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.McGrath RentCorp makes up approximately 0.10% of Mondrian Investment Partners Ltd’s portfolio.
Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in MGRC by selling 1,379 shares or 2.73% in the most recent quarter. The Hedge Fund company now holds 49,220 shares of MGRC which is valued at $1,548,461. Proficio Capital Partners sold out all of its stake in MGRC during the most recent quarter. The investment firm sold 95 shares of MGRC which is valued $3,028. Daiwa Securities Group added MGRC to its portfolio by purchasing 16,600 company shares during the most recent quarter which is valued at $530,868.
McGrath RentCorp opened for trading at $31.54 and hit $31.56 on the upside on Thursday, eventually ending the session at $31.5, with a gain of 0.13% or 0.04 points. The heightened volatility saw the trading volume jump to 65,972 shares. Company has a market cap of $753 M.
On the company’s financial health, McGrath RentCorp reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.34. The company had revenue of $103.10 million for the quarter, compared to analysts expectations of $98.58 million. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 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 Companys 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.