Hantz Financial Services Inc. Increases Stock Position in McGrath RentCorp (NASDAQ:MGRC)

Hantz Financial Services Inc. increased its holdings in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,939 shares of the financial services provider's stock after purchasing an additional 2,506 shares during the quarter. Hantz Financial Services Inc. owned approximately 0.09% of McGrath RentCorp worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MGRC. KBC Group NV raised its holdings in shares of McGrath RentCorp by 37.3% during the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 286 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in McGrath RentCorp by 4.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider's stock worth $933,000 after purchasing an additional 357 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in shares of McGrath RentCorp in the 4th quarter worth about $207,000. Franklin Resources Inc. lifted its position in shares of McGrath RentCorp by 57.3% in the 3rd 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 during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of McGrath RentCorp during the 3rd quarter valued at about $548,000. Hedge funds and other institutional investors own 92.05% of the company's stock.

Wall Street Analyst Weigh In

MGRC has been the subject of a number of research reports. CJS Securities assumed coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They issued an "outperform" rating and a $152.00 price target for the company. Oppenheimer increased their target price on McGrath RentCorp from $124.00 to $139.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Finally, StockNews.com upgraded McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday, January 17th.

Insider Activity

In other news, CEO Joseph F. Hanna sold 15,840 shares of McGrath RentCorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $119.88, for a total value of $1,898,899.20. Following the completion of the transaction, the chief executive officer now owns 155,409 shares of the company's stock, valued at $18,630,430.92. The trade was a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gilda Malek sold 919 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.78, for a total transaction of $111,915.82. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

McGrath RentCorp Stock Performance

Shares of McGrath RentCorp stock traded down $1.64 during trading on Friday, hitting $122.67. The company's stock had a trading volume of 148,988 shares, compared to its average volume of 126,424. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $130.86. The company has a market capitalization of $3.01 billion, a PE ratio of 13.41, a P/E/G ratio of 1.47 and a beta of 0.77. The company has a fifty day simple moving average of $117.40 and a two-hundred day simple moving average of $111.76.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, January 17th. McGrath RentCorp's dividend payout ratio is 20.77%.

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.