McGrath RentCorp (NASDAQ:MGRC) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lowered its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 185,931 shares of the financial services provider’s stock after selling 2,296 shares during the quarter. Schroder Investment Management Group’s holdings in McGrath RentCorp were worth $20,657,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. New Age Alpha Advisors LLC acquired a new position in shares of McGrath RentCorp during the 4th quarter worth approximately $33,000. Norges Bank acquired a new position in shares of McGrath RentCorp in the fourth quarter worth $9,724,000. Neumeier Poma Investment Counsel LLC lifted its position in shares of McGrath RentCorp by 127.1% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 204,806 shares of the financial services provider’s stock valued at $22,901,000 after acquiring an additional 114,626 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of McGrath RentCorp by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider’s stock valued at $304,836,000 after acquiring an additional 29,467 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in McGrath RentCorp during the 4th quarter worth about $283,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Trading Up 0.7 %

McGrath RentCorp stock opened at $113.22 on Thursday. The stock has a fifty day moving average price of $118.88 and a 200 day moving average price of $115.40. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The firm has a market capitalization of $2.78 billion, a P/E ratio of 12.01, a PEG ratio of 1.35 and a beta of 0.62.

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

McGrath RentCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. McGrath RentCorp’s dividend payout ratio is presently 20.57%.

Insider Buying and Selling

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

Analysts Set New Price Targets

MGRC has been the topic of a number of recent research reports. StockNews.com lowered shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, March 14th. CJS Securities began coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price objective on the stock.

McGrath RentCorp Company Profile

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.