Clearbridge Investments LLC Purchases 4,732 Shares of McGrath RentCorp (NASDAQ:MGRC)

Clearbridge Investments LLC grew its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 303,566 shares of the financial services provider's stock after purchasing an additional 4,732 shares during the period. Clearbridge Investments LLC owned approximately 1.24% of McGrath RentCorp worth $33,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Atala Financial Inc bought a new stake in McGrath RentCorp during the 4th quarter valued at approximately $31,000. New Age Alpha Advisors LLC bought a new stake in shares of McGrath RentCorp during the fourth quarter valued at approximately $33,000. KBC Group NV grew its stake in McGrath RentCorp by 37.3% in the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock worth $118,000 after purchasing an additional 286 shares during the period. Xponance Inc. bought a new position in McGrath RentCorp in the fourth quarter worth $200,000. Finally, Empirical Asset Management LLC purchased a new position in McGrath RentCorp during the fourth quarter valued at $207,000. Hedge funds and other institutional investors own 92.05% of the company's stock.

Wall Street Analysts Forecast Growth

MGRC has been the topic of a number of recent research reports. StockNews.com downgraded shares of McGrath RentCorp from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. CJS Securities began coverage on shares of McGrath RentCorp in a report on Wednesday, December 11th. They issued an "outperform" rating and a $152.00 price objective on the stock.

McGrath RentCorp Trading Down 1.9 %

McGrath RentCorp stock traded down $2.03 during mid-day trading on Friday, hitting $105.12. The company had a trading volume of 188,223 shares, compared to its average volume of 181,348. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The company has a market capitalization of $2.58 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.35 and a beta of 0.62. The stock's 50 day moving average price is $118.20 and its two-hundred day moving average price is $115.57.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $243.75 million for the quarter, compared to analysts' expectations of $246.93 million. Equities research analysts anticipate that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be given a dividend of $0.485 per share. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 annualized dividend and a dividend yield of 1.85%. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. McGrath RentCorp's dividend payout ratio (DPR) is 20.57%.

Insider Buying and Selling

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total transaction of $124,690.00. Following the sale, the director now directly owns 7,500 shares in the company, valued at approximately $935,175. This trade represents a 11.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

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.