McGrath RentCorp (NASDAQ:MGRC) Stock Position Lifted by River Road Asset Management LLC

River Road Asset Management LLC boosted its position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 52.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,896,943 shares of the financial services provider's stock after acquiring an additional 649,567 shares during the period. McGrath RentCorp accounts for about 2.8% of River Road Asset Management LLC's holdings, making the stock its 3rd biggest position. River Road Asset Management LLC owned 7.73% of McGrath RentCorp worth $212,116,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV grew its stake in McGrath RentCorp by 32.5% during the third quarter. KBC Group NV now owns 767 shares of the financial services provider's stock valued at $81,000 after acquiring an additional 188 shares in the last quarter. Covestor Ltd lifted its position in McGrath RentCorp by 15.8% during the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider's stock valued at $125,000 after purchasing an additional 161 shares during the last quarter. Empirical Asset Management LLC bought a new stake in McGrath RentCorp during the fourth quarter valued at approximately $207,000. Millburn Ridgefield Corp bought a new stake in McGrath RentCorp during the third quarter valued at approximately $203,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in McGrath RentCorp by 5.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company's stock.

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Insider Transactions at McGrath RentCorp

In related news, Director Kimberly Ann Box sold 1,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at $935,175. This represents a 11.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.60% of the company's stock.

McGrath RentCorp Trading Down 1.2 %

Shares of MGRC traded down $1.38 during mid-day trading on Thursday, reaching $109.58. The company's stock had a trading volume of 117,307 shares, compared to its average volume of 152,471. The stock has a market cap of $2.69 billion, a PE ratio of 11.62, a P/E/G ratio of 1.35 and a beta of 0.75. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The company's fifty day moving average price is $119.13 and its two-hundred day moving average price is $114.43.

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

McGrath RentCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from McGrath RentCorp's previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. McGrath RentCorp's payout ratio is presently 20.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Oppenheimer lifted their target price on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. StockNews.com upgraded shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday, February 28th. Finally, CJS Securities assumed coverage on shares of McGrath RentCorp in a research report on Wednesday, December 11th. They set an "outperform" rating and a $152.00 target price 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.