Segall Bryant & Hamill LLC Acquires Shares of 59,589 McGrath RentCorp (NASDAQ:MGRC)

Segall Bryant & Hamill LLC purchased a new stake in McGrath RentCorp (NASDAQ:MGRC) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 59,589 shares of the financial services provider’s stock, valued at approximately $6,638,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MGRC. New Age Alpha Advisors LLC bought a new position in shares of McGrath RentCorp in the fourth quarter valued at approximately $33,000. Canada Pension Plan Investment Board bought a new position in McGrath RentCorp during the fourth quarter worth $89,000. Focus Partners Wealth acquired a new position in shares of McGrath RentCorp in the fourth quarter valued at approximately $136,000. State of Wyoming bought a new position in shares of McGrath RentCorp in the 4th quarter worth $159,000. Finally, Xponance Inc. bought a new position in McGrath RentCorp during the fourth quarter valued at about $200,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McGrath RentCorp

In other news, CEO Joseph F. Hanna sold 5,567 shares of McGrath RentCorp stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $108.89, for a total transaction of $606,190.63. Following the transaction, the chief executive officer owned 176,897 shares in the company, valued at $19,262,314.33. The trade was a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Philip B. Hawkins sold 4,804 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $103.57, for a total value of $497,550.28. Following the sale, the chief operating officer owned 3,150 shares of the company’s stock, valued at $326,245.50. This trade represents a 60.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,313 shares of company stock worth $2,005,372 in the last ninety days. 1.40% of the stock is owned by company insiders.

McGrath RentCorp Trading Down 0.2%

Shares of MGRC stock opened at $117.11 on Friday. The stock’s fifty day simple moving average is $115.72 and its 200-day simple moving average is $114.74. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.22 and a beta of 0.66. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.13. McGrath RentCorp had a net margin of 25.81% and a return on equity of 13.57%. The business had revenue of $195.42 million for the quarter, compared to analyst estimates of $189.03 million. During the same quarter in the previous year, the business earned $0.93 earnings per share. McGrath RentCorp’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, July 17th. McGrath RentCorp’s dividend payout ratio is currently 20.10%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday, April 25th.

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.