Voya Investment Management LLC Has $821,000 Stake in McGrath RentCorp (NASDAQ:MGRC)

Voya Investment Management LLC lowered its position in McGrath RentCorp (NASDAQ:MGRC) by 7.2% in the 4th quarter, HoldingsChannel reports. The fund owned 7,341 shares of the financial services provider’s stock after selling 568 shares during the period. Voya Investment Management LLC’s holdings in McGrath RentCorp were worth $821,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MGRC. O Shaughnessy Asset Management LLC grew its position in shares of McGrath RentCorp by 3.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 86 shares in the last quarter. Summit Investment Advisors Inc. grew its position in McGrath RentCorp by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,553 shares of the financial services provider’s stock worth $285,000 after buying an additional 162 shares in the last quarter. Sei Investments Co. increased its stake in McGrath RentCorp by 1.8% in the 4th quarter. Sei Investments Co. now owns 10,575 shares of the financial services provider’s stock worth $1,182,000 after acquiring an additional 184 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of McGrath RentCorp by 11.2% in the 4th quarter. Forum Financial Management LP now owns 2,142 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 216 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of McGrath RentCorp by 6.6% during the 4th quarter. Hsbc Holdings PLC now owns 3,964 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 245 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday, April 25th.

Insider Activity at McGrath RentCorp

In other news, COO Philip B. Hawkins sold 4,804 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $103.57, for a total transaction of $497,550.28. Following the completion of the transaction, the chief operating officer now directly owns 3,150 shares of the company’s stock, valued at approximately $326,245.50. This represents a 60.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kimberly Ann Box sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $124.69, for a total value 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. The trade was a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,371 shares of company stock worth $1,228,431 in the last three months. 1.60% of the stock is owned by insiders.

McGrath RentCorp Stock Up 1.0 %

MGRC opened at $108.96 on Thursday. The business’s fifty day simple moving average is $109.35 and its 200 day simple moving average is $115.19. The stock has a market cap of $2.68 billion, a PE ratio of 11.55, a P/E/G ratio of 1.35 and a beta of 0.66. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Thursday, April 24th. The financial services provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.02 by $0.13. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The company had revenue of $195.42 million for the quarter, compared to analyst estimates of $189.03 million. During the same quarter last year, the firm earned $0.93 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th were given a $0.485 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $1.94 annualized dividend and a yield of 1.78%. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.48. McGrath RentCorp’s payout ratio is presently 20.10%.

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.