McGrath RentCorp (NASDAQ:MGRC) Position Raised by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP increased its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,423 shares of the financial services provider's stock after buying an additional 8,688 shares during the period. ExodusPoint Capital Management LP owned about 0.77% of McGrath RentCorp worth $21,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MGRC. O Shaughnessy Asset Management LLC lifted its position in shares of McGrath RentCorp by 3.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider's stock valued at $291,000 after acquiring an additional 86 shares during the period. Sei Investments Co. raised its holdings in McGrath RentCorp by 1.8% during the fourth quarter. Sei Investments Co. now owns 10,575 shares of the financial services provider's stock worth $1,182,000 after purchasing an additional 184 shares during the last quarter. Atala Financial Inc acquired a new position in McGrath RentCorp during the fourth quarter worth $31,000. KBC Group NV boosted its position 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 purchasing an additional 286 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of McGrath RentCorp in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 92.05% of the company's stock.

Insider Buying and Selling at McGrath RentCorp

In other news, Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction that occurred 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 owns 7,500 shares of the company's stock, valued at approximately $935,175. The trade was a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

McGrath RentCorp Price Performance

NASDAQ MGRC traded down $0.28 during mid-day trading on Tuesday, hitting $104.39. The company's stock had a trading volume of 24,571 shares, compared to its average volume of 181,072. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93. The firm has a market capitalization of $2.56 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.35 and a beta of 0.62. The stock's fifty day simple moving average is $117.83 and its two-hundred day simple moving average is $115.61.

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

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a $0.485 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a yield of 1.86%. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.48. McGrath RentCorp's dividend payout ratio (DPR) is currently 20.57%.

Analyst Ratings Changes

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

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.