Stone Ridge Asset Management LLC bought a new position in McGrath RentCorp (NASDAQ:MGRC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,545 shares of the financial services provider’s stock, valued at approximately $636,000. Stone Ridge Asset Management LLC owned about 0.06% of McGrath RentCorp as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGRC. Nationwide Fund Advisors boosted its position in shares of McGrath RentCorp by 4.1% in the third quarter. Nationwide Fund Advisors now owns 38,346 shares of the financial services provider’s stock worth $1,678,000 after acquiring an additional 1,499 shares during the last quarter. American Century Companies Inc. boosted its position in shares of McGrath RentCorp by 156.3% in the third quarter. American Century Companies Inc. now owns 59,780 shares of the financial services provider’s stock worth $2,615,000 after acquiring an additional 36,457 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in McGrath RentCorp by 0.7% in the third quarter. Russell Investments Group Ltd. now owns 362,641 shares of the financial services provider’s stock valued at $15,866,000 after buying an additional 2,607 shares during the period. SG Americas Securities LLC purchased a new position in McGrath RentCorp in the third quarter valued at approximately $142,000. Finally, Macquarie Group Ltd. purchased a new position in McGrath RentCorp in the third quarter valued at approximately $121,000. 84.07% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on the stock. BidaskClub upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research lowered shares of McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 3rd.
McGrath RentCorp stock opened at $52.91 on Friday. McGrath RentCorp has a 1-year low of $32.09 and a 1-year high of $55.65. The company has a market cap of $1,272.59, a P/E ratio of 24.96, a P/E/G ratio of 1.96 and a beta of 0.90.
McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.13. McGrath RentCorp had a net margin of 33.31% and a return on equity of 11.85%. The firm had revenue of $122.23 million for the quarter, compared to analyst estimates of $109.77 million. During the same quarter last year, the firm posted $0.40 earnings per share. McGrath RentCorp’s revenue for the quarter was up 16.1% compared to the same quarter last year. analysts forecast that McGrath RentCorp will post 2.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Monday, April 16th will be issued a $0.34 dividend. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, April 13th. This represents a $1.36 annualized dividend and a yield of 2.57%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 16.46%.
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McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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