7,000 Shares in McGrath RentCorp (MGRC) Acquired by Capital Management Associates NY

Capital Management Associates NY bought a new position in McGrath RentCorp (NASDAQ:MGRC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,000 shares of the financial services provider’s stock, valued at approximately $306,000.

A number of other hedge funds have also recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its position in McGrath RentCorp by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,166 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 56 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of McGrath RentCorp by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 172 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of McGrath RentCorp by 0.6% during the 1st quarter. California Public Employees Retirement System now owns 53,200 shares of the financial services provider’s stock valued at $1,786,000 after acquiring an additional 300 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of McGrath RentCorp by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,426 shares of the financial services provider’s stock valued at $638,000 after acquiring an additional 352 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of McGrath RentCorp by 2.0% during the 2nd quarter. Wells Fargo & Company MN now owns 18,013 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 357 shares during the last quarter. 81.97% of the stock is currently owned by institutional investors.

Shares of McGrath RentCorp (NASDAQ:MGRC) traded up $0.52 during trading hours on Tuesday, reaching $46.35. The company had a trading volume of 69,800 shares, compared to its average volume of 73,326. McGrath RentCorp has a 1 year low of $32.09 and a 1 year high of $49.66. The company has a market cap of $1,101.39, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.99.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.12. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The firm had revenue of $135.39 million during the quarter, compared to the consensus estimate of $124.90 million. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. sell-side analysts anticipate that McGrath RentCorp will post 2.04 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Tuesday, October 17th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, October 16th. This represents a $1.04 annualized dividend and a yield of 2.24%. McGrath RentCorp’s payout ratio is 54.74%.

In other McGrath RentCorp news, VP Kay Dashner sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the vice president now owns 6,998 shares in the company, valued at approximately $279,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith E. Pratt sold 2,284 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $47.00, for a total value of $107,348.00. Following the completion of the sale, the chief financial officer now owns 28,118 shares of the company’s stock, valued at approximately $1,321,546. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,389 shares of company stock valued at $677,453. 4.60% of the stock is owned by corporate insiders.

MGRC has been the subject of several recent analyst reports. BidaskClub upgraded McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Saturday, August 5th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of McGrath RentCorp in a research note on Wednesday, November 1st.

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About McGrath RentCorp

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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Institutional Ownership by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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