McGrath RentCorp (NASDAQ:MGRC) Shares Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC grew its position in McGrath RentCorp (NASDAQ:MGRC) by 12.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 333,046 shares of the financial services provider’s stock after purchasing an additional 36,057 shares during the period. Silvercrest Asset Management Group LLC owned approximately 1.36% of McGrath RentCorp worth $37,241,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Atala Financial Inc acquired a new stake in McGrath RentCorp during the fourth quarter worth about $31,000. New Age Alpha Advisors LLC acquired a new stake in McGrath RentCorp during the fourth quarter worth about $33,000. Canada Pension Plan Investment Board acquired a new stake in McGrath RentCorp during the fourth quarter worth about $89,000. KBC Group NV grew its holdings in McGrath RentCorp by 37.3% during the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 286 shares during the period. Finally, Focus Partners Wealth acquired a new stake in McGrath RentCorp during the fourth quarter worth about $136,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Friday, April 25th.

Insiders Place Their Bets

In other news, VP John P. Skenesky sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $111.32, for a total value of $278,300.00. Following the transaction, the vice president now owns 8,692 shares in the company, valued at $967,593.44. This trade represents a 22.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimberly Ann Box sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total value of $124,690.00. Following the completion of the transaction, the director now owns 7,500 shares in the company, valued at approximately $935,175. This trade represents a 11.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,871 shares of company stock worth $1,506,731. 1.60% of the stock is owned by corporate insiders.

McGrath RentCorp Trading Up 0.6%

Shares of MGRC stock opened at $115.74 on Friday. The company has a market capitalization of $2.85 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.35 and a beta of 0.66. The business’s 50 day moving average is $109.30 and its two-hundred day moving average is $115.39. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.13. The company had revenue of $195.42 million for the quarter, compared to the consensus estimate of $189.03 million. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. McGrath RentCorp’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.93 earnings per share. On average, research analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a yield of 1.68%. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.48. McGrath RentCorp’s dividend payout ratio is currently 20.10%.

McGrath RentCorp Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.