Semanteon Capital Management LP Takes Position in McGrath RentCorp (NASDAQ:MGRC)

Semanteon Capital Management LP purchased a new stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,100 shares of the financial services provider's stock, valued at approximately $537,000.

A number of other large investors have also recently added to or reduced their stakes in MGRC. Magnetar Financial LLC acquired a new stake in shares of McGrath RentCorp in the 1st quarter valued at about $84,042,000. Capital Research Global Investors raised its stake in McGrath RentCorp by 67.6% during the first quarter. Capital Research Global Investors now owns 784,021 shares of the financial services provider's stock valued at $96,725,000 after buying an additional 316,292 shares in the last quarter. Swedbank AB bought a new position in McGrath RentCorp during the 1st quarter worth approximately $14,804,000. Vaughan Nelson Investment Management L.P. grew its position in shares of McGrath RentCorp by 26.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 486,190 shares of the financial services provider's stock worth $51,803,000 after acquiring an additional 100,210 shares in the last quarter. Finally, Murchinson Ltd. bought a new stake in shares of McGrath RentCorp in the 2nd quarter valued at approximately $7,466,000. 92.05% of the stock is currently owned by institutional investors.

McGrath RentCorp Stock Up 1.0 %

Shares of NASDAQ:MGRC traded up $1.11 during trading on Tuesday, hitting $116.26. 331,091 shares of the company traded hands, compared to its average volume of 242,918. The business's fifty day moving average is $106.03 and its 200-day moving average is $107.22. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.82 and a beta of 0.75. McGrath RentCorp has a one year low of $95.50 and a one year high of $130.86.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.48. The firm had revenue of $266.76 million during the quarter, compared to the consensus estimate of $227.76 million. McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. The firm's revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 EPS. On average, analysts forecast that McGrath RentCorp will post 4.48 EPS for the current year.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, October 17th. McGrath RentCorp's dividend payout ratio (DPR) is 37.04%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MGRC shares. StockNews.com upgraded McGrath RentCorp from a "sell" rating to a "hold" rating in a research note on Tuesday, October 22nd. Oppenheimer raised their price target on shares of McGrath RentCorp from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday.

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.