Vaughan Nelson Investment Management L.P. Has $1.16 Million Stock Position in McGrath RentCorp (NASDAQ:MGRC)

Vaughan Nelson Investment Management L.P. lessened its holdings in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 97.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,010 shares of the financial services provider's stock after selling 475,180 shares during the period. Vaughan Nelson Investment Management L.P.'s holdings in McGrath RentCorp were worth $1,159,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGRC. KBC Group NV raised its holdings in shares of McGrath RentCorp by 32.5% in the 3rd quarter. KBC Group NV now owns 767 shares of the financial services provider's stock worth $81,000 after buying an additional 188 shares in the last quarter. Covestor Ltd raised its stake in McGrath RentCorp by 15.8% during the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider's stock worth $125,000 after acquiring an additional 161 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of McGrath RentCorp during the first quarter valued at $171,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 acquiring an additional 104 shares during the period. Finally, Aristides Capital LLC acquired a new stake in shares of McGrath RentCorp in the 1st quarter valued at $239,000. Institutional investors own 92.05% of the company's stock.

McGrath RentCorp Stock Down 0.1 %

NASDAQ:MGRC traded down $0.10 during mid-day trading on Monday, reaching $116.71. 173,013 shares of the company were exchanged, compared to its average volume of 244,488. The stock has a market cap of $2.87 billion, a PE ratio of 12.77, a PEG ratio of 1.63 and a beta of 0.74. The company has a fifty day moving average of $109.43 and a 200 day moving average of $108.04. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.48. McGrath RentCorp had a return on equity of 13.64% and a net margin of 25.29%. The firm had revenue of $266.76 million for the quarter, compared to analyst estimates of $227.76 million. During the same period last year, the company earned $1.65 EPS. The business's quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that McGrath RentCorp will post 5.5 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Thursday, October 17th. McGrath RentCorp's dividend payout ratio (DPR) is presently 20.77%.

Analyst Upgrades and Downgrades

MGRC has been the subject of several analyst reports. Oppenheimer lifted their price target on shares of McGrath RentCorp from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, October 25th. StockNews.com upgraded shares of McGrath RentCorp from a "sell" rating to a "hold" rating in a research note on Tuesday, October 22nd.

Insider Transactions at McGrath RentCorp

In other McGrath RentCorp news, VP David M. Whitney sold 5,176 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $117.00, for a total value of $605,592.00. Following the transaction, the vice president now owns 205 shares of the company's stock, valued at approximately $23,985. This represents a 96.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Dawson sold 20,000 shares of the business's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $115.00, for a total value of $2,300,000.00. Following the transaction, the director now owns 4,000 shares of the company's stock, valued at $460,000. The trade was a 83.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,016 shares of company stock worth $5,493,411 in the last quarter. 1.60% of the stock is owned by company insiders.

McGrath RentCorp 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.