Rhumbline Advisers Buys 366 Shares of McGrath RentCorp (NASDAQ:MGRC)

Rhumbline Advisers grew its holdings in McGrath RentCorp (NASDAQ:MGRC) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,581 shares of the financial services provider’s stock after purchasing an additional 366 shares during the quarter. Rhumbline Advisers owned about 0.18% of McGrath RentCorp worth $4,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of MGRC. Raymond James & Associates grew its position in McGrath RentCorp by 47.2% in the 3rd quarter. Raymond James & Associates now owns 67,140 shares of the financial services provider’s stock valued at $7,068,000 after purchasing an additional 21,540 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of McGrath RentCorp by 5.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock worth $213,000 after buying an additional 104 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of McGrath RentCorp by 8.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 7,985 shares of the financial services provider’s stock worth $841,000 after purchasing an additional 590 shares during the period. River Road Asset Management LLC lifted its position in shares of McGrath RentCorp by 68.2% during the 3rd quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider’s stock valued at $131,324,000 after buying an additional 505,817 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of McGrath RentCorp by 15.8% in the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MGRC. StockNews.com upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer upped their price objective on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, CJS Securities initiated coverage on shares of McGrath RentCorp in a report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 target price on the stock.

McGrath RentCorp Trading Down 0.9 %

McGrath RentCorp stock opened at $124.04 on Friday. The firm has a 50-day moving average of $118.68 and a 200-day moving average of $113.83. The firm has a market cap of $3.05 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.35 and a beta of 0.77. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $243.75 million during the quarter, compared to the consensus estimate of $246.93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. Research analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be paid a dividend of $0.485 per share. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.56%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 20.57%.

Insider Buying and Selling at McGrath RentCorp

In related news, VP Gilda Malek sold 919 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.78, for a total transaction of $111,915.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

McGrath RentCorp 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.