Two Sigma Advisers LP reduced its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 12.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,202 shares of the financial services provider’s stock after selling 7,600 shares during the quarter. Two Sigma Advisers LP’s holdings in McGrath RentCorp were worth $2,593,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of McGrath RentCorp by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,781,300 shares of the financial services provider’s stock worth $77,932,000 after acquiring an additional 35,195 shares during the period. Franklin Resources Inc. boosted its stake in shares of McGrath RentCorp by 3.4% during the 4th quarter. Franklin Resources Inc. now owns 1,628,605 shares of the financial services provider’s stock worth $76,512,000 after acquiring an additional 53,109 shares during the period. BlackRock Inc. boosted its stake in shares of McGrath RentCorp by 1.5% during the 4th quarter. BlackRock Inc. now owns 1,491,404 shares of the financial services provider’s stock worth $70,065,000 after acquiring an additional 21,398 shares during the period. Renaissance Technologies LLC boosted its stake in shares of McGrath RentCorp by 2.5% during the 4th quarter. Renaissance Technologies LLC now owns 527,795 shares of the financial services provider’s stock worth $24,796,000 after acquiring an additional 12,895 shares during the period. Finally, Walthausen & Co. LLC boosted its stake in McGrath RentCorp by 4.7% in the 3rd quarter. Walthausen & Co. LLC now owns 492,175 shares of the financial services provider’s stock valued at $21,533,000 after purchasing an additional 21,930 shares during the period. Institutional investors own 84.07% of the company’s stock.
Several analysts recently issued reports on MGRC shares. BidaskClub upgraded McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. ValuEngine upgraded McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research downgraded McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.13. The business had revenue of $122.23 million during the quarter, compared to the consensus estimate of $109.77 million. McGrath RentCorp had a return on equity of 11.85% and a net margin of 33.31%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. equities analysts predict that McGrath RentCorp will post 2.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Monday, April 16th will be paid a $0.34 dividend. The ex-dividend date is Friday, April 13th. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.26. This represents a $1.36 annualized dividend and a yield of 2.52%. McGrath RentCorp’s payout ratio is 48.60%.
In related news, Director Ronald H. Zech sold 2,053 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $50.48, for a total value of $103,635.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trease Kristina Van sold 5,170 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $52.82, for a total value of $273,079.40. Following the completion of the sale, the vice president now owns 14,131 shares of the company’s stock, valued at $746,399.42. The disclosure for this sale can be found here. Insiders sold a total of 21,390 shares of company stock valued at $1,089,232 over the last 90 days. 4.60% of the stock is currently owned by corporate insiders.
McGrath RentCorp Profile
McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
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