Jump Financial LLC Sells 6,055 Shares of McGrath RentCorp (NASDAQ:MGRC)

Jump Financial LLC reduced its holdings in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 23.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,600 shares of the financial services provider's stock after selling 6,055 shares during the quarter. Jump Financial LLC owned about 0.08% of McGrath RentCorp worth $2,192,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its holdings in McGrath RentCorp by 351.6% during the 3rd quarter. Barclays PLC now owns 40,555 shares of the financial services provider's stock worth $4,269,000 after acquiring an additional 31,575 shares during the period. Geode Capital Management LLC increased its holdings in McGrath RentCorp by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 578,254 shares of the financial services provider's stock worth $60,890,000 after acquiring an additional 6,165 shares during the period. Sanctuary Advisors LLC bought a new stake in McGrath RentCorp during the 3rd quarter worth approximately $548,000. Franklin Resources Inc. increased its holdings in McGrath RentCorp by 57.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider's stock worth $119,456,000 after acquiring an additional 404,884 shares during the period. Finally, Empirical Asset Management LLC bought a new stake in McGrath RentCorp during the 4th quarter worth approximately $207,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at McGrath RentCorp

In other news, Director Kimberly Ann Box sold 1,000 shares of the company's 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 directly owns 7,500 shares of the company's stock, valued at $935,175. This represents a 11.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company's stock.

McGrath RentCorp Stock Up 0.6 %

Shares of NASDAQ:MGRC traded up $0.61 on Thursday, hitting $103.03. The company had a trading volume of 32,916 shares, compared to its average volume of 177,424. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $129.93. The firm's 50-day simple moving average is $112.84 and its two-hundred day simple moving average is $115.26. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.35 and a beta of 0.62.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share for the quarter, topping 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 return on equity of 13.68% and a net margin of 25.44%. Equities research analysts anticipate that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $0.485 per share. The ex-dividend date is Wednesday, April 16th. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a yield of 1.88%. McGrath RentCorp's dividend payout ratio (DPR) is currently 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.