SG Americas Securities LLC grew its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 885.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,828 shares of the financial services provider’s stock after buying an additional 21,410 shares during the period. SG Americas Securities LLC owned 0.10% of McGrath RentCorp worth $1,298,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Swiss National Bank raised its position in shares of McGrath RentCorp by 4.8% in the 2nd quarter. Swiss National Bank now owns 41,900 shares of the financial services provider’s stock worth $2,651,000 after purchasing an additional 1,900 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of McGrath RentCorp by 14.2% in the 3rd quarter. WINTON GROUP Ltd now owns 15,952 shares of the financial services provider’s stock worth $869,000 after purchasing an additional 1,986 shares during the last quarter. ELM Advisors LLC purchased a new position in shares of McGrath RentCorp in the 3rd quarter worth about $131,000. GSA Capital Partners LLP raised its position in shares of McGrath RentCorp by 16.7% in the 2nd quarter. GSA Capital Partners LLP now owns 19,140 shares of the financial services provider’s stock worth $1,211,000 after purchasing an additional 2,732 shares during the last quarter. Finally, Ausdal Financial Partners Inc. purchased a new position in shares of McGrath RentCorp in the 2nd quarter worth about $202,000. Hedge funds and other institutional investors own 83.06% of the company’s stock.
In other McGrath RentCorp news, VP John Lieffrig sold 1,284 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $54.43, for a total value of $69,888.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Keith E. Pratt sold 1,841 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $53.00, for a total value of $97,573.00. Following the completion of the transaction, 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 currently owned by insiders.
Shares of NASDAQ:MGRC opened at $52.13 on Friday. McGrath RentCorp has a fifty-two week low of $42.98 and a fifty-two week high of $68.79. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72.
McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Tuesday, October 30th. The financial services provider reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.11. McGrath RentCorp had a return on equity of 12.61% and a net margin of 35.47%. The business had revenue of $143.10 million during the quarter, compared to analyst estimates of $139.87 million. During the same quarter in the previous year, the firm earned $0.69 EPS. McGrath RentCorp’s revenue was up 5.7% on a year-over-year basis. As a group, equities analysts forecast that McGrath RentCorp will post 2.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Thursday, January 17th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, January 16th. McGrath RentCorp’s dividend payout ratio (DPR) is 63.55%.
Several equities analysts have recently issued reports on MGRC shares. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $61.00 price target for the company in a research report on Friday, November 2nd. Berenberg Bank started coverage on McGrath RentCorp in a research report on Wednesday, September 19th. They issued a “buy” rating and a $70.00 price target for the company. ValuEngine lowered McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, BidaskClub raised McGrath RentCorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st.
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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