McGrath RentCorp (NASDAQ:MGRC) Shares Bought by River Road Asset Management LLC

River Road Asset Management LLC raised its holdings in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 68.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,247,376 shares of the financial services provider's stock after buying an additional 505,817 shares during the quarter. McGrath RentCorp comprises about 1.7% of River Road Asset Management LLC's portfolio, making the stock its 10th biggest holding. River Road Asset Management LLC owned approximately 5.08% of McGrath RentCorp worth $131,324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Janney Montgomery Scott LLC increased its holdings in shares of McGrath RentCorp by 8.0% in the third quarter. Janney Montgomery Scott LLC now owns 7,985 shares of the financial services provider's stock valued at $841,000 after purchasing an additional 590 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in McGrath RentCorp in the 3rd quarter valued at $537,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of McGrath RentCorp by 5.4% in the 3rd 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 last quarter. Dakota Wealth Management raised its holdings in shares of McGrath RentCorp by 3.9% during the 3rd quarter. Dakota Wealth Management now owns 6,098 shares of the financial services provider's stock worth $642,000 after acquiring an additional 228 shares during the period. Finally, Raymond James & Associates boosted its position in shares of McGrath RentCorp by 47.2% during the 3rd quarter. Raymond James & Associates now owns 67,140 shares of the financial services provider's stock valued at $7,068,000 after acquiring an additional 21,540 shares during the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MGRC shares. Oppenheimer raised their price objective on shares of McGrath RentCorp from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. StockNews.com upgraded shares of McGrath RentCorp from a "sell" rating to a "hold" rating in a report on Tuesday, October 22nd.

McGrath RentCorp Stock Performance

Shares of McGrath RentCorp stock traded up $1.63 during trading hours on Tuesday, hitting $117.17. The company's stock had a trading volume of 189,069 shares, compared to its average volume of 244,515. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.61 and a beta of 0.74. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $130.86. The firm has a fifty day moving average of $107.07 and a 200-day moving average of $107.38.

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

McGrath RentCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Thursday, October 17th. McGrath RentCorp's dividend payout ratio (DPR) is currently 20.77%.

Insider Buying and Selling

In other McGrath RentCorp news, VP David M. Whitney sold 5,176 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $117.00, for a total value of $605,592.00. Following the completion of the transaction, the vice president now owns 205 shares of the company's stock, valued at $23,985. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP David M. Whitney sold 5,176 shares of McGrath RentCorp 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 completion of the transaction, the vice president now owns 205 shares in the company, valued at approximately $23,985. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kimberly Ann Box sold 1,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $114.62, for a total transaction of $114,620.00. Following the sale, the director now owns 7,500 shares in the company, valued at $859,650. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,176 shares of company stock valued at $3,594,512 in the last ninety days. Company insiders own 1.60% of the company's stock.

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.