Creative Planning Has $501,000 Stock Holdings in McGrath RentCorp (NASDAQ:MGRC)

Creative Planning lessened its stake in McGrath RentCorp (NASDAQ:MGRC) by 10.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,762 shares of the financial services provider’s stock after selling 533 shares during the quarter. Creative Planning’s holdings in McGrath RentCorp were worth $501,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Sei Investments Co. increased its stake in McGrath RentCorp by 2.9% in the 1st quarter. Sei Investments Co. now owns 4,473 shares of the financial services provider’s stock valued at $552,000 after buying an additional 126 shares during the period. Arizona State Retirement System boosted its holdings in shares of McGrath RentCorp by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 6,871 shares of the financial services provider’s stock worth $732,000 after buying an additional 141 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of McGrath RentCorp by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,397 shares of the financial services provider’s stock worth $1,108,000 after buying an additional 185 shares during the period. Cim LLC boosted its holdings in shares of McGrath RentCorp by 4.6% during the 2nd quarter. Cim LLC now owns 4,636 shares of the financial services provider’s stock worth $475,000 after buying an additional 205 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of McGrath RentCorp by 2.1% during the 2nd quarter. AQR Capital Management LLC now owns 10,146 shares of the financial services provider’s stock worth $1,081,000 after buying an additional 207 shares during the period. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, VP David M. Whitney sold 5,176 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $117.00, for a total value of $605,592.00. Following the completion of the sale, the vice president now directly owns 205 shares of the company’s stock, valued at $23,985. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP David M. Whitney sold 5,176 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $117.00, for a total value of $605,592.00. Following the completion of the transaction, the vice president now owns 205 shares in the company, valued at approximately $23,985. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John P. Skenesky sold 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $114.86, for a total transaction of $574,300.00. Following the completion of the transaction, the vice president now owns 8,711 shares of the company’s stock, valued at approximately $1,000,545.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,176 shares of company stock valued at $3,594,512 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MGRC. Oppenheimer upped their price objective on shares of McGrath RentCorp from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

McGrath RentCorp Price Performance

Shares of McGrath RentCorp stock opened at $117.17 on Wednesday. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $130.86. The firm has a fifty day moving average price of $107.07 and a two-hundred day moving average price of $107.38. The company has a market cap of $2.88 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.61 and a beta of 0.74.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.48. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The firm had revenue of $266.76 million during the quarter, compared to the consensus estimate of $227.76 million. During the same period in the prior year, the firm earned $1.65 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Analysts expect that McGrath RentCorp will post 5.5 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Thursday, October 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 20.77%.

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.