Strs Ohio trimmed its stake in McGrath RentCorp (NASDAQ:MGRC) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,000 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. Strs Ohio owned approximately 0.07% of McGrath RentCorp worth $823,000 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 the company. WINTON GROUP Ltd raised its holdings in shares of McGrath RentCorp by 14.2% in the third quarter. WINTON GROUP Ltd now owns 15,952 shares of the financial services provider’s stock worth $869,000 after acquiring an additional 1,986 shares during the last quarter. North Star Investment Management Corp. grew its position in shares of McGrath RentCorp by 8.2% in the fourth quarter. North Star Investment Management Corp. now owns 26,425 shares of the financial services provider’s stock valued at $1,360,000 after purchasing an additional 2,000 shares during the period. United Services Automobile Association grew its position in shares of McGrath RentCorp by 47.7% in the third quarter. United Services Automobile Association now owns 7,386 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 2,384 shares during the period. Teachers Advisors LLC grew its position in shares of McGrath RentCorp by 5.4% in the third quarter. Teachers Advisors LLC now owns 48,489 shares of the financial services provider’s stock valued at $2,641,000 after purchasing an additional 2,485 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of McGrath RentCorp by 13.2% in the third quarter. GSA Capital Partners LLP now owns 21,658 shares of the financial services provider’s stock valued at $1,180,000 after purchasing an additional 2,518 shares during the period. 83.00% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, January 18th. BidaskClub downgraded McGrath RentCorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th.
Shares of NASDAQ:MGRC opened at $49.32 on Wednesday. The firm has a market capitalization of $1.18 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56. McGrath RentCorp has a 52 week low of $45.40 and a 52 week high of $68.79.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Thursday, January 17th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, January 16th. McGrath RentCorp’s dividend payout ratio is currently 63.55%.
In other news, Director Dennis P. Stradford sold 3,200 shares of McGrath RentCorp stock in a transaction on Monday, December 10th. The stock was sold at an average price of $51.37, for a total value of $164,384.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Keith E. Pratt sold 1,841 shares of McGrath RentCorp stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $53.00, for a total value of $97,573.00. Following the completion of the sale, the vice president now directly owns 25,382 shares of the company’s stock, valued at approximately $1,345,246. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
McGrath RentCorp Company 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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