Great West Life Assurance Co. Can maintained its position in shares of McGrath RentCorp (NASDAQ:MGRC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,029 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in McGrath RentCorp were worth $126,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Deprince Race & Zollo Inc. boosted its position in shares of McGrath RentCorp by 12.9% in the second quarter. Deprince Race & Zollo Inc. now owns 1,356,485 shares of the company’s stock valued at $41,495,000 after buying an additional 154,966 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of McGrath RentCorp by 4.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 636,916 shares of the company’s stock valued at $15,974,000 after buying an additional 24,942 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of McGrath RentCorp during the second quarter valued at approximately $15,422,000. Royce & Associates LP boosted its position in shares of McGrath RentCorp by 10.0% in the first quarter. Royce & Associates LP now owns 320,400 shares of the company’s stock valued at $8,036,000 after buying an additional 29,100 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of McGrath RentCorp by 1.3% in the first quarter. Geode Capital Management LLC now owns 163,581 shares of the company’s stock valued at $4,102,000 after buying an additional 2,073 shares in the last quarter. 81.61% of the stock is owned by institutional investors.
Shares of McGrath RentCorp (NASDAQ:MGRC) traded down 1.39% during trading on Monday, reaching $31.30. 64,731 shares of the company’s stock traded hands. The stock has a 50-day moving average of $31.76 and a 200-day moving average of $28.70. The company has a market capitalization of $748.01 million, a price-to-earnings ratio of 19.40 and a beta of 0.96. McGrath RentCorp has a 1-year low of $21.46 and a 1-year high of $33.35.
McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The company earned $103.10 million during the quarter, compared to analysts’ expectations of $98.58 million. McGrath RentCorp had a net margin of 11.96% and a return on equity of 12.96%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, equities analysts predict that McGrath RentCorp will post $1.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, October 13th. McGrath RentCorp’s dividend payout ratio is presently 61.08%.
Several equities analysts have commented on MGRC shares. Zacks Investment Research cut shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Sidoti raised their price target on shares of McGrath RentCorp from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, September 14th. Finally, TheStreet raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research report on Friday, June 10th.
In other news, CEO Dennis C. Kakures sold 36,777 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $32.60, for a total value of $1,198,930.20. Following the completion of the transaction, the chief executive officer now owns 314,224 shares of the company’s stock, valued at $10,243,702.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Trease Kristina Van sold 2,266 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $31.74, for a total transaction of $71,922.84. Following the completion of the transaction, the vice president now directly owns 16,236 shares of the company’s stock, valued at approximately $515,330.64. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by insiders.
McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company with four rental divisions: relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes. The Company operates in four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
Want to see what other hedge funds are holding MGRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McGrath RentCorp (NASDAQ:MGRC).
Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.