McGrath RentCorp (NASDAQ:MGRC) Stock Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 293,499 shares of the financial services provider's stock after buying an additional 6,238 shares during the period. Charles Schwab Investment Management Inc. owned about 1.20% of McGrath RentCorp worth $32,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of McGrath RentCorp by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 171,299 shares of the financial services provider's stock worth $19,155,000 after acquiring an additional 914 shares during the last quarter. Hudson Edge Investment Partners Inc. raised its position in shares of McGrath RentCorp by 44.0% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 3,012 shares of the financial services provider's stock valued at $337,000 after purchasing an additional 921 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of McGrath RentCorp by 12.0% in the 4th quarter. New York State Common Retirement Fund now owns 8,408 shares of the financial services provider's stock valued at $940,000 after purchasing an additional 900 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of McGrath RentCorp by 0.8% during the 4th quarter. Rhumbline Advisers now owns 44,581 shares of the financial services provider's stock valued at $4,985,000 after buying an additional 366 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of McGrath RentCorp during the fourth quarter worth approximately $3,833,000. Institutional investors and hedge funds own 92.05% of the company's stock.

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McGrath RentCorp Stock Down 1.1 %

McGrath RentCorp stock traded down $1.23 during mid-day trading on Thursday, hitting $114.54. 36,239 shares of the company's stock traded hands, compared to its average volume of 181,612. McGrath RentCorp has a one year low of $95.50 and a one year high of $129.93. The company has a market cap of $2.81 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.35 and a beta of 0.75. The firm has a 50 day moving average price of $119.41 and a 200 day moving average price of $114.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (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 firm had revenue of $243.75 million during the quarter, compared to analyst estimates of $246.93 million. On average, analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.69%. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. McGrath RentCorp's dividend payout ratio is 20.57%.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $124.69, for a total value of $124,690.00. Following the sale, the director now directly owns 7,500 shares in the company, valued at approximately $935,175. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MGRC shares. StockNews.com cut shares of McGrath RentCorp from a "buy" rating to a "hold" rating in a report on Friday, March 14th. Oppenheimer upped their target price on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. Finally, CJS Securities began coverage on McGrath RentCorp in a research note on Wednesday, December 11th. They issued an "outperform" rating and a $152.00 price target for the company.

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.