2,527 Shares in McGrath RentCorp (NASDAQ:MGRC) Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,527 shares of the financial services provider’s stock, valued at approximately $283,000.

Other hedge funds have also modified their holdings of the company. River Road Asset Management LLC boosted its position in McGrath RentCorp by 52.1% in the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock valued at $212,116,000 after buying an additional 649,567 shares during the last quarter. Franklin Resources Inc. raised its position in McGrath RentCorp by 57.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider’s stock worth $119,456,000 after buying an additional 404,884 shares during the last quarter. State Street Corp lifted its stake in McGrath RentCorp by 2.2% during the 3rd quarter. State Street Corp now owns 593,009 shares of the financial services provider’s stock valued at $62,432,000 after acquiring an additional 12,520 shares during the period. Geode Capital Management LLC boosted its holdings in shares of McGrath RentCorp by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 578,254 shares of the financial services provider’s stock valued at $60,890,000 after acquiring an additional 6,165 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of McGrath RentCorp by 30.0% in the fourth quarter. Swedbank AB now owns 325,000 shares of the financial services provider’s stock worth $36,342,000 after acquiring an additional 75,000 shares during the period. 92.05% of the stock is owned by institutional investors and hedge funds.

McGrath RentCorp Price Performance

NASDAQ:MGRC opened at $115.19 on Friday. The company has a 50 day moving average price of $119.49 and a 200-day moving average price of $115.06. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.35 and a beta of 0.75.

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

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.485 per share. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a yield of 1.68%. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.48. McGrath RentCorp’s dividend payout ratio is currently 20.57%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MGRC shares. StockNews.com downgraded shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. CJS Securities began coverage on McGrath RentCorp in a report on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 price objective for the company.

Insider Buying and Selling at McGrath RentCorp

In other news, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total transaction of $124,690.00. Following the transaction, the director now owns 7,500 shares in the company, valued at $935,175. This trade represents a 11.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

McGrath RentCorp Company 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.