McGrath RentCorp (NASDAQ:MGRC) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its stake in McGrath RentCorp (NASDAQ:MGRC) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,533 shares of the financial services provider’s stock after selling 130 shares during the period. Quantbot Technologies LP’s holdings in McGrath RentCorp were worth $619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. River Road Asset Management LLC increased its holdings in McGrath RentCorp by 52.1% during the 4th quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock worth $212,116,000 after purchasing an additional 649,567 shares during the period. Franklin Resources Inc. grew its position in shares of McGrath RentCorp by 57.3% during the third quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider’s stock worth $119,456,000 after buying an additional 404,884 shares in the last quarter. State Street Corp increased its stake in shares of McGrath RentCorp by 2.2% during the third quarter. State Street Corp now owns 593,009 shares of the financial services provider’s stock worth $62,432,000 after buying an additional 12,520 shares during the period. Geode Capital Management LLC raised its holdings in McGrath RentCorp by 1.1% in the third quarter. Geode Capital Management LLC now owns 578,254 shares of the financial services provider’s stock valued at $60,890,000 after acquiring an additional 6,165 shares in the last quarter. Finally, Swedbank AB lifted its stake in McGrath RentCorp by 30.0% in the fourth quarter. Swedbank AB now owns 325,000 shares of the financial services provider’s stock worth $36,342,000 after acquiring an additional 75,000 shares during the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGRC has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. CJS Securities began coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They set an “outperform” rating and a $152.00 target price for the company.

Insiders Place Their Bets

In other news, Director Kimberly Ann Box sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $124.69, for a total value of $124,690.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $935,175. The trade was a 11.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

McGrath RentCorp Stock Down 1.1 %

MGRC stock opened at $115.19 on Friday. The business has a 50 day moving average price of $119.49 and a 200 day moving average price of $115.06. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.35 and a beta of 0.75. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $243.75 million during the quarter, compared to the consensus estimate of $246.93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. As a group, sell-side analysts anticipate that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.68%. The ex-dividend date is Wednesday, April 16th. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.48. McGrath RentCorp’s dividend payout ratio is currently 20.57%.

McGrath RentCorp Profile

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, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.