McGrath RentCorp (NASDAQ:MGRC) Shares Bought by Brasada Capital Management LP

Brasada Capital Management LP lifted its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 100.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,657 shares of the financial services provider's stock after purchasing an additional 15,839 shares during the quarter. Brasada Capital Management LP owned about 0.13% of McGrath RentCorp worth $3,625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atala Financial Inc acquired a new position in shares of McGrath RentCorp during the 4th quarter valued at $31,000. New Age Alpha Advisors LLC bought a new stake in McGrath RentCorp in the fourth quarter worth about $33,000. Canada Pension Plan Investment Board acquired a new stake in McGrath RentCorp in the 4th quarter valued at about $89,000. KBC Group NV boosted its position in shares of McGrath RentCorp by 37.3% during the 4th quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 286 shares in the last quarter. Finally, Xponance Inc. bought a new stake in shares of McGrath RentCorp in the 4th quarter worth approximately $200,000. 92.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut shares of McGrath RentCorp from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Insider Activity

In related news, Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.

McGrath RentCorp Stock Down 0.9 %

Shares of NASDAQ MGRC opened at $101.86 on Wednesday. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The business has a fifty day simple moving average of $113.19 and a 200-day simple moving average of $115.35. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.35 and a beta of 0.62.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. As a group, sell-side analysts expect that McGrath RentCorp will post 6.18 EPS 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 paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 1.90%. The ex-dividend date is Wednesday, April 16th. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.48. McGrath RentCorp's payout ratio is 20.57%.

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.

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