Wealth Architects buys $385,966 stake in McGrath RentCorp (MGRC)

McGrath RentCorp (MGRC) : Wealth Architects scooped up 7 additional shares in McGrath RentCorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 12,343 shares of McGrath RentCorp which is valued at $385,966.McGrath RentCorp makes up approximately 0.18% of Wealth Architects’s portfolio.

Other Hedge Funds, Including , Barrow Hanley Mewhinney Strauss added MGRC to its portfolio by purchasing 35,433 company shares during the most recent quarter which is valued at $1,107,990.Lsv Asset Management boosted its stake in MGRC in the latest quarter, The investment management firm added 35,544 additional shares and now holds a total of 67,744 shares of McGrath RentCorp which is valued at $2,133,259.California Public Employees Retirement System boosted its stake in MGRC in the latest quarter, The investment management firm added 1,800 additional shares and now holds a total of 62,200 shares of McGrath RentCorp which is valued at $1,956,812.

McGrath RentCorp opened for trading at $31.28 and hit $31.7 on the upside on Monday, eventually ending the session at $31.64, with a gain of 1.15% or 0.36 points. The heightened volatility saw the trading volume jump to 78,454 shares. Company has a market cap of $756 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 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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