Walthausen & Co. LLC Invests $18.02 Million in McGrath RentCorp (MGRC) Stock

Walthausen & Co. LLC purchased a new position in McGrath RentCorp (NASDAQ:MGRC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 330,895 shares of the financial services provider’s stock, valued at approximately $18,024,000. McGrath RentCorp comprises 1.7% of Walthausen & Co. LLC’s investment portfolio, making the stock its 5th largest position. Walthausen & Co. LLC owned approximately 1.37% of McGrath RentCorp at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. ELM Advisors LLC bought a new position in McGrath RentCorp during the third quarter valued at $131,000. Ausdal Financial Partners Inc. purchased a new position in McGrath RentCorp in the 2nd quarter valued at $202,000. Mirador Capital Partners LP acquired a new stake in shares of McGrath RentCorp in the 2nd quarter worth $218,000. Sterling Capital Management LLC acquired a new stake in shares of McGrath RentCorp in the 2nd quarter worth $218,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of McGrath RentCorp in the 3rd quarter worth $231,000. Institutional investors own 81.92% of the company’s stock.

MGRC has been the subject of a number of recent analyst reports. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a research report on Friday, November 2nd. Berenberg Bank initiated coverage on McGrath RentCorp in a research report on Wednesday, September 19th. They set a “buy” rating and a $70.00 price objective for the company. ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, BidaskClub raised McGrath RentCorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st.

Shares of NASDAQ:MGRC opened at $52.46 on Monday. The stock has a market cap of $1.27 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.78 and a beta of 0.75. McGrath RentCorp has a 12-month low of $42.98 and a 12-month high of $68.79.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Tuesday, October 30th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $143.10 million during the quarter, compared to the consensus estimate of $139.87 million. McGrath RentCorp had a return on equity of 12.61% and a net margin of 35.47%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. Analysts predict that McGrath RentCorp will post 2.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.59%. The ex-dividend date was Tuesday, October 16th. McGrath RentCorp’s dividend payout ratio is currently 63.55%.

In other McGrath RentCorp news, VP John P. Skenesky sold 1,423 shares of McGrath RentCorp stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $55.75, for a total value of $79,332.25. Following the completion of the transaction, the vice president now directly owns 1,716 shares of the company’s stock, valued at approximately $95,667. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Keith E. Pratt sold 1,841 shares of McGrath RentCorp stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $53.00, for a total value of $97,573.00. Following the completion of the transaction, the vice president now directly owns 25,382 shares of the company’s stock, valued at $1,345,246. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,548 shares of company stock valued at $246,793. 2.00% of the stock is currently owned by corporate insiders.

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McGrath RentCorp Profile

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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