American Century Companies Inc. Has $1.52 Million Stock Position in McGrath RentCorp (NASDAQ:MGRC)

American Century Companies Inc. lessened its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 8.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,600 shares of the financial services provider’s stock after selling 1,190 shares during the quarter. American Century Companies Inc.’s holdings in McGrath RentCorp were worth $1,521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. River Road Asset Management LLC increased its holdings in shares of 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 acquiring an additional 649,567 shares during the last quarter. Franklin Resources Inc. boosted its position in 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 purchasing an additional 404,884 shares during the period. Raymond James Financial Inc. acquired a new position in shares of McGrath RentCorp in the fourth quarter valued at $13,179,000. FMR LLC raised its position in shares of McGrath RentCorp by 3,120.0% in the third quarter. FMR LLC now owns 116,791 shares of the financial services provider’s stock valued at $12,296,000 after purchasing an additional 113,164 shares during the period. Finally, Swedbank AB lifted its stake in shares of McGrath RentCorp by 30.0% during the 4th quarter. Swedbank AB now owns 325,000 shares of the financial services provider’s stock worth $36,342,000 after buying an additional 75,000 shares during the last quarter. Institutional investors own 92.05% of the company’s stock.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.00. Following the sale, the director now directly owns 7,500 shares in the company, valued at $935,175. This represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

McGrath RentCorp Stock Performance

Shares of McGrath RentCorp stock opened at $107.22 on Thursday. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93. The stock has a market cap of $2.63 billion, a PE ratio of 11.37, a PEG ratio of 1.35 and a beta of 0.62. The firm has a 50-day moving average of $116.33 and a 200-day moving average of $115.49.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The firm had revenue of $243.75 million during the quarter, compared to the consensus estimate of $246.93 million. Equities research analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current fiscal 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 dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Wednesday, April 16th. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.48. McGrath RentCorp’s dividend payout ratio (DPR) is 20.57%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. StockNews.com lowered shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. CJS Securities assumed coverage on McGrath RentCorp in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 target price on the stock.

About McGrath RentCorp

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.