McGrath RentCorp (NASDAQ:MGRC) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in McGrath RentCorp (NASDAQ:MGRC) by 16.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,014 shares of the financial services provider’s stock after buying an additional 1,378 shares during the period. Russell Investments Group Ltd.’s holdings in McGrath RentCorp were worth $1,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MGRC. O Shaughnessy Asset Management LLC grew its position in McGrath RentCorp by 3.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 86 shares during the period. Sei Investments Co. grew its holdings in shares of McGrath RentCorp by 1.8% during the 4th quarter. Sei Investments Co. now owns 10,575 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 184 shares during the period. Atala Financial Inc acquired a new stake in McGrath RentCorp during the 4th quarter worth approximately $31,000. KBC Group NV raised its holdings in McGrath RentCorp by 37.3% in the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider’s stock valued at $118,000 after buying an additional 286 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in McGrath RentCorp during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Stock Performance

Shares of NASDAQ:MGRC opened at $102.80 on Tuesday. The business’s 50-day simple moving average is $113.56 and its 200 day simple moving average is $115.44. The company has a market cap of $2.52 billion, a P/E ratio of 10.90, a PEG ratio of 1.35 and a beta of 0.62. McGrath RentCorp has a one year low of $95.50 and a one year high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $243.75 million for the quarter, compared to analysts’ expectations of $246.93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. Analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. McGrath RentCorp’s payout ratio is presently 20.57%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

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.