One Wealth Advisors LLC Boosts Holdings in McGrath RentCorp (NASDAQ:MGRC)

One Wealth Advisors LLC increased its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 40.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,857 shares of the financial services provider's stock after acquiring an additional 4,824 shares during the period. One Wealth Advisors LLC owned about 0.07% of McGrath RentCorp worth $1,885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MGRC. KBC Group NV raised its stake in shares of McGrath RentCorp by 32.5% in the third quarter. KBC Group NV now owns 767 shares of the financial services provider's stock worth $81,000 after purchasing an additional 188 shares during the last quarter. Covestor Ltd raised its position in McGrath RentCorp by 15.8% in the 3rd quarter. Covestor Ltd now owns 1,183 shares of the financial services provider's stock worth $125,000 after buying an additional 161 shares during the last quarter. Empirical Asset Management LLC bought a new position in McGrath RentCorp during the 4th quarter valued at about $207,000. Millburn Ridgefield Corp purchased a new stake in shares of McGrath RentCorp during the 3rd quarter valued at about $203,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of McGrath RentCorp by 5.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider's stock worth $213,000 after acquiring an additional 104 shares during the period. 92.05% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Gilda Malek sold 919 shares of McGrath RentCorp 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MGRC. StockNews.com upgraded shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. CJS Securities began coverage on McGrath RentCorp in a report on Wednesday, December 11th. They set an "outperform" rating and a $152.00 price target on the stock. Finally, Oppenheimer lifted their price objective on McGrath RentCorp from $124.00 to $139.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd.

McGrath RentCorp Price Performance

Shares of MGRC traded up $1.62 on Thursday, reaching $124.97. The company's stock had a trading volume of 163,721 shares, compared to its average volume of 142,943. The stock's 50 day simple moving average is $117.50 and its two-hundred day simple moving average is $112.06. The stock has a market capitalization of $3.07 billion, a P/E ratio of 13.66, a PEG ratio of 1.47 and a beta of 0.77. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $130.86.

McGrath RentCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, January 17th. McGrath RentCorp's dividend payout ratio is presently 20.77%.

About McGrath RentCorp

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.