Posted by admin on Jul 9th, 2022

Virginia Retirement Systems ET AL cut its holdings in shares of McGrath RentCorp (NASDAQ:MGRC – Get Rating) by 2.6% in the 1st quarter, Holdings Channel reports. The fund owned 7,500 shares of the financial services provider’s stock after selling 200 shares during the period. Virginia Retirement Systems ET AL’s holdings in McGrath RentCorp were worth $637,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cim LLC grew its stake in shares of McGrath RentCorp by 11.3% during the fourth quarter. Cim LLC now owns 4,766 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 484 shares in the last quarter. American Century Companies Inc. grew its stake in shares of McGrath RentCorp by 36.8% during the fourth quarter. American Century Companies Inc. now owns 103,576 shares of the financial services provider’s stock valued at $8,313,000 after acquiring an additional 27,862 shares in the last quarter. Tudor Investment Corp Et Al grew its stake in shares of McGrath RentCorp by 29.4% during the third quarter. Tudor Investment Corp Et Al now owns 22,090 shares of the financial services provider’s stock valued at $1,589,000 after acquiring an additional 5,020 shares in the last quarter. BerganKDV Wealth Management LLC grew its stake in shares of McGrath RentCorp by 7.0% during the fourth quarter. BerganKDV Wealth Management LLC now owns 7,124 shares of the financial services provider’s stock valued at $572,000 after acquiring an additional 464 shares in the last quarter. Finally, Insight Folios Inc grew its stake in shares of McGrath RentCorp by 8.2% during the fourth quarter. Insight Folios Inc now owns 6,421 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 488 shares in the last quarter. Institutional investors own 92.27% of the company’s stock.

NASDAQ:MGRC opened at $76.38 on Friday. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.87 and a beta of 0.80. McGrath RentCorp has a one year low of $67.08 and a one year high of $91.37. The stock has a 50-day simple moving average of $79.34 and a 200 day simple moving average of $80.25.

McGrath RentCorp (NASDAQ:MGRC – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.20. The business had revenue of $145.37 million during the quarter, compared to the consensus estimate of $146.41 million. McGrath RentCorp had a return on equity of 12.65% and a net margin of 14.21%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share. As a group, analysts expect that McGrath RentCorp will post 4.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $1.82 dividend on an annualized basis and a yield of 2.38%. McGrath RentCorp’s dividend payout ratio (DPR) is 48.92%.

In other McGrath RentCorp news, Director Dennis P. Stradford sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $83.20, for a total value of $83,200.00. Following the transaction, the director now owns 9,200 shares of the company’s stock, valued at $765,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth A. Fetter sold 1,400 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $82.15, for a total transaction of $115,010.00. Following the completion of the transaction, the director now directly owns 5,100 shares in the company, valued at approximately $418,965. The disclosure for this sale can be found here. Insiders sold 4,400 shares of company stock valued at $361,690 over the last quarter. Insiders own 1.80% of the company’s stock.

Separately, StockNews.com upgraded McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Saturday.

About McGrath RentCorp (Get Rating)

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, electronic test equipment and related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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