Hantz Financial Services Inc. Purchases 2,506 Shares of McGrath RentCorp (NASDAQ:MGRC)

Hantz Financial Services Inc. increased its holdings in McGrath RentCorp (NASDAQ:MGRC) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,939 shares of the financial services provider’s stock after purchasing an additional 2,506 shares during the period. Hantz Financial Services Inc. owned approximately 0.09% of McGrath RentCorp worth $2,453,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. KBC Group NV grew its stake in shares of McGrath RentCorp by 37.3% in the 4th quarter. KBC Group NV now owns 1,053 shares of the financial services provider’s stock worth $118,000 after buying an additional 286 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of McGrath RentCorp by 4.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider’s stock valued at $933,000 after acquiring an additional 357 shares during the last quarter. Empirical Asset Management LLC bought a new stake in McGrath RentCorp during the fourth quarter worth approximately $207,000. Franklin Resources Inc. increased its stake in McGrath RentCorp by 57.3% during the third quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider’s stock worth $119,456,000 after acquiring an additional 404,884 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in McGrath RentCorp during the third quarter valued at approximately $548,000. Institutional investors own 92.05% of the company’s stock.

Insiders Place Their Bets

In other news, VP Gilda Malek sold 919 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.78, for a total value of $111,915.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph F. Hanna sold 15,840 shares of McGrath RentCorp stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $119.88, for a total transaction of $1,898,899.20. Following the sale, the chief executive officer now owns 155,409 shares of the company’s stock, valued at $18,630,430.92. The trade was a 9.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com raised McGrath RentCorp from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. CJS Securities started coverage on shares of McGrath RentCorp in a research report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price objective on the stock. Finally, Oppenheimer raised their target price on shares of McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd.

McGrath RentCorp Stock Performance

MGRC opened at $124.31 on Friday. The stock’s 50 day moving average price is $117.30 and its 200-day moving average price is $111.68. McGrath RentCorp has a one year low of $95.50 and a one year high of $130.86. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.48 and a beta of 0.77.

McGrath RentCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, January 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 20.77%.

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.