Rhumbline Advisers grew its stake in McGrath RentCorp (NASDAQ:MGRC – Free Report) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,399 shares of the financial services provider’s stock after purchasing an additional 1,136 shares during the period. Rhumbline Advisers owned approximately 0.19% of McGrath RentCorp worth $4,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Magnetar Financial LLC acquired a new stake in shares of McGrath RentCorp during the 1st quarter worth approximately $84,042,000. Capital Research Global Investors acquired a new stake in McGrath RentCorp during the fourth quarter worth $55,950,000. Public Employees Retirement Association of Colorado raised its position in McGrath RentCorp by 3,216.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 248,844 shares of the financial services provider’s stock valued at $29,767,000 after purchasing an additional 241,340 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of McGrath RentCorp by 82.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 385,980 shares of the financial services provider’s stock valued at $47,619,000 after purchasing an additional 174,240 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of McGrath RentCorp during the 4th quarter worth $19,469,000. Institutional investors and hedge funds own 92.05% of the company’s stock.
McGrath RentCorp Stock Down 2.3 %
NASDAQ:MGRC opened at $101.65 on Monday. McGrath RentCorp has a 52 week low of $95.71 and a 52 week high of $130.86. The company has a fifty day simple moving average of $106.60 and a two-hundred day simple moving average of $110.48. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.46 and a beta of 0.76.
McGrath RentCorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, October 17th. McGrath RentCorp’s payout ratio is 37.04%.
Analysts Set New Price Targets
Separately, StockNews.com lowered shares of McGrath RentCorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th.
Check Out Our Latest Research Report on McGrath RentCorp
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.
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