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

Quantbot Technologies LP reduced its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Atala Financial Inc acquired a new stake in shares of McGrath RentCorp during the fourth quarter worth about $31,000. KBC Group NV raised its stake in McGrath RentCorp by 37.3% during the 4th quarter. KBC Group NV now owns 1,053 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 286 shares during the last quarter. Xponance Inc. acquired a new stake in McGrath RentCorp during the 4th quarter worth approximately $200,000. Millburn Ridgefield Corp purchased a new position in shares of McGrath RentCorp in the 3rd quarter valued at approximately $203,000. Finally, Empirical Asset Management LLC purchased a new position in shares of McGrath RentCorp in the 4th quarter valued at approximately $207,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 value of $124,690.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $935,175. This trade represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MGRC. StockNews.com downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, March 14th. CJS Securities assumed coverage on shares of McGrath RentCorp in a research report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price objective for the company.

McGrath RentCorp Trading Down 1.1 %

Shares of MGRC opened at $115.19 on Friday. The stock’s 50 day moving average is $119.49 and its two-hundred day moving average is $115.06. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $129.93. The firm has a market capitalization of $2.83 billion, a PE ratio of 12.22, a P/E/G ratio of 1.35 and a beta of 0.75.

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

McGrath RentCorp Increases Dividend

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

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.