McGrath RentCorp (MGRC) Holdings Raised by BW Gestao de Investimentos Ltda.
BW Gestao de Investimentos Ltda. boosted its position in McGrath RentCorp (NASDAQ:MGRC) by 6.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,487 shares of the financial services provider’s stock after purchasing an additional 1,162 shares during the period. BW Gestao de Investimentos Ltda. owned about 0.08% of McGrath RentCorp worth $675,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of MGRC. US Bancorp DE grew its position in McGrath RentCorp by 17,333.3% in the 2nd quarter. US Bancorp DE now owns 4,184 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 4,160 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in McGrath RentCorp by 260.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 3,241 shares in the last quarter. Thrivent Financial For Lutherans bought a new stake in McGrath RentCorp in the 2nd quarter worth about $246,000. Legal & General Group Plc grew its position in McGrath RentCorp by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 172 shares in the last quarter. Finally, Bank of America Corp DE grew its position in McGrath RentCorp by 9.7% in the 1st quarter. Bank of America Corp DE now owns 9,417 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 830 shares in the last quarter. 82.54% of the stock is owned by institutional investors and hedge funds.
In other news, VP John P. Skenesky sold 7,561 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $38.47, for a total transaction of $290,871.67. Following the completion of the transaction, the vice president now directly owns 6,387 shares of the company’s stock, valued at $245,707.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trease Kristina Van sold 1,043 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.82, for a total transaction of $41,532.26. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $755,504.86. The disclosure for this sale can be found here. Insiders have sold 18,265 shares of company stock valued at $719,958 over the last three months. 4.60% of the stock is owned by corporate insiders.
Shares of McGrath RentCorp (NASDAQ:MGRC) traded up 0.69% during midday trading on Thursday, reaching $46.54. 14,761 shares of the company’s stock were exchanged. McGrath RentCorp has a 12-month low of $29.26 and a 12-month high of $46.73. The firm has a 50-day moving average of $41.83 and a 200-day moving average of $36.66. The stock has a market capitalization of $1.12 billion, a P/E ratio of 26.61 and a beta of 0.97.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.10. McGrath RentCorp had a net margin of 9.74% and a return on equity of 10.62%. The firm had revenue of $109.58 million during the quarter, compared to analysts’ expectations of $105.36 million. During the same period in the previous year, the company earned $0.38 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts anticipate that McGrath RentCorp will post $1.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 17th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, October 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.25%. McGrath RentCorp’s payout ratio is 59.43%.
MGRC has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub downgraded shares of McGrath RentCorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
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McGrath RentCorp Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through 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).
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