Mirador Capital Partners LP Sells 415 Shares of McGrath RentCorp (NASDAQ:MGRC)

Mirador Capital Partners LP lessened its stake in McGrath RentCorp (NASDAQ:MGRC) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,107 shares of the financial services provider’s stock after selling 415 shares during the quarter. Mirador Capital Partners LP owned about 0.05% of McGrath RentCorp worth $1,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KBC Group NV increased its holdings in McGrath RentCorp by 32.5% in the third quarter. KBC Group NV now owns 767 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 188 shares during the last quarter. Covestor Ltd increased its holdings in McGrath RentCorp by 15.8% in the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 161 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in McGrath RentCorp in the third quarter valued at about $203,000. Wealth Enhancement Advisory Services LLC increased its holdings in McGrath RentCorp by 5.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 104 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in McGrath RentCorp in the third quarter valued at about $238,000. Institutional investors own 92.05% of the company’s stock.

Insider Transactions at McGrath RentCorp

In related news, VP David M. Whitney sold 5,176 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $117.00, for a total transaction of $605,592.00. Following the completion of the transaction, the vice president now directly owns 205 shares of the company’s stock, valued at approximately $23,985. This represents a 96.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gilda Malek sold 919 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $121.78, for a total value of $111,915.82. The disclosure for this sale can be found here. Insiders sold 47,935 shares of company stock valued at $5,605,327 over the last three months. Company insiders own 1.60% of the company’s stock.

McGrath RentCorp Price Performance

Shares of McGrath RentCorp stock opened at $117.48 on Thursday. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $130.86. The business has a 50-day moving average of $116.85 and a two-hundred day moving average of $110.57. The company has a market capitalization of $2.88 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.34 and a beta of 0.77.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.48. The company had revenue of $266.76 million during the quarter, compared to analysts’ expectations of $227.76 million. McGrath RentCorp had a return on equity of 13.64% and a net margin of 25.29%. McGrath RentCorp’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 earnings per share. On average, equities analysts anticipate that McGrath RentCorp will post 5.5 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.475 per share. The ex-dividend date is Friday, January 17th. This represents a $1.90 annualized dividend and a dividend yield of 1.62%. McGrath RentCorp’s dividend payout ratio is currently 20.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MGRC. StockNews.com upgraded McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. CJS Securities assumed coverage on McGrath RentCorp in a report on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 price target for the company. Finally, Oppenheimer increased their price target on McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd.

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.