Fox Run Management L.L.C. Acquires Shares of 2,527 McGrath RentCorp (NASDAQ:MGRC)

Fox Run Management L.L.C. bought a new position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,527 shares of the financial services provider's stock, valued at approximately $283,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. River Road Asset Management LLC raised its position in shares of McGrath RentCorp by 52.1% in the 4th quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider's stock worth $212,116,000 after acquiring an additional 649,567 shares in the last quarter. Franklin Resources Inc. increased its holdings in McGrath RentCorp by 57.3% in the third quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider's stock worth $119,456,000 after purchasing an additional 404,884 shares in the last quarter. Walleye Capital LLC acquired a new position in McGrath RentCorp in the third quarter valued at approximately $15,967,000. Raymond James Financial Inc. bought a new position in shares of McGrath RentCorp during the 4th quarter worth approximately $13,179,000. Finally, Clearline Capital LP acquired a new stake in shares of McGrath RentCorp during the 3rd quarter worth approximately $11,976,000. Institutional investors and hedge funds own 92.05% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of McGrath RentCorp from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. CJS Securities began coverage on shares of McGrath RentCorp in a report on Wednesday, December 11th. They set an "outperform" rating and a $152.00 price objective on the stock.

Insiders Place Their Bets

In other news, Director Kimberly Ann Box sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total value of $124,690.00. Following the transaction, the director now owns 7,500 shares in the company, valued at $935,175. This trade represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company's stock.

McGrath RentCorp Stock Performance

Shares of NASDAQ MGRC traded up $1.00 during midday trading on Tuesday, hitting $112.40. 160,053 shares of the stock traded hands, compared to its average volume of 183,238. McGrath RentCorp has a one year low of $95.50 and a one year high of $129.93. The business has a 50 day moving average price of $119.07 and a two-hundred day moving average price of $115.42. The company has a market cap of $2.76 billion, a PE ratio of 11.92, a P/E/G ratio of 1.35 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The business had revenue of $243.75 million during the quarter, compared to analyst estimates of $246.93 million. As a group, equities research analysts forecast that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a yield of 1.73%. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. McGrath RentCorp's payout ratio is 20.57%.

McGrath RentCorp Company 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.