GSA Capital Partners LLP Acquires Shares of 16,408 McGrath RentCorp (MGRC)

GSA Capital Partners LLP acquired a new position in shares of McGrath RentCorp (NASDAQ:MGRC) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,408 shares of the financial services provider’s stock, valued at approximately $881,000. GSA Capital Partners LLP owned 0.07% of McGrath RentCorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MGRC. SG Americas Securities LLC purchased a new position in McGrath RentCorp during the first quarter worth $195,000. Lido Advisors LLC purchased a new position in McGrath RentCorp during the first quarter worth $226,000. Two Sigma Investments LP purchased a new position in McGrath RentCorp during the fourth quarter worth $242,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in McGrath RentCorp during the fourth quarter worth $329,000. Finally, Teacher Retirement System of Texas purchased a new position in McGrath RentCorp during the fourth quarter worth $370,000. 78.55% of the stock is owned by institutional investors.

Shares of MGRC opened at $64.37 on Friday. The firm has a market cap of $1.56 billion, a PE ratio of 28.47, a P/E/G ratio of 2.37 and a beta of 0.83. McGrath RentCorp has a 12-month low of $32.71 and a 12-month high of $68.79.



McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Tuesday, May 1st. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.12. The firm had revenue of $105.09 million during the quarter, compared to analyst estimates of $99.92 million. McGrath RentCorp had a net margin of 33.97% and a return on equity of 11.81%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. sell-side analysts predict that McGrath RentCorp will post 2.73 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Tuesday, July 17th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Monday, July 16th. McGrath RentCorp’s dividend payout ratio is currently 63.55%.

Several research firms have commented on MGRC. BidaskClub lowered shares of McGrath RentCorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. ValuEngine raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st.

In other news, Director William J. Dawson sold 4,843 shares of the business’s stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $60.74, for a total transaction of $294,163.82. Following the completion of the sale, the director now directly owns 13,900 shares of the company’s stock, valued at $844,286. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald H. Zech sold 4,000 shares of the business’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the sale, the director now directly owns 38,689 shares of the company’s stock, valued at $2,495,053.61. The disclosure for this sale can be found here. Insiders have sold 32,185 shares of company stock valued at $2,055,148 over the last three months. Insiders own 2.00% of the company’s stock.

About McGrath RentCorp

McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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

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