Quantbot Technologies LP Acquires Shares of 5,663 McGrath RentCorp (NASDAQ:MGRC)

Quantbot Technologies LP acquired a new position in McGrath RentCorp (NASDAQ:MGRC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,663 shares of the financial services provider's stock, valued at approximately $596,000.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of McGrath RentCorp by 3,120.0% in the third quarter. FMR LLC now owns 116,791 shares of the financial services provider's stock worth $12,296,000 after purchasing an additional 113,164 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in McGrath RentCorp in the 3rd quarter worth about $816,000. Swedbank AB lifted its stake in McGrath RentCorp by 25.0% during the 3rd quarter. Swedbank AB now owns 250,000 shares of the financial services provider's stock valued at $26,320,000 after acquiring an additional 50,000 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of McGrath RentCorp by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 287,261 shares of the financial services provider's stock valued at $30,243,000 after acquiring an additional 8,428 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of McGrath RentCorp in the third quarter worth approximately $797,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Joseph F. Hanna sold 15,840 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $119.88, for a total value of $1,898,899.20. Following the transaction, the chief executive officer now owns 155,409 shares of the company's stock, valued at approximately $18,630,430.92. The trade was a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction 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 completion of the sale, the director now owns 7,500 shares in the company, valued at approximately $859,650. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,016 shares of company stock valued at $5,493,411. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of McGrath RentCorp from $124.00 to $139.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. StockNews.com raised shares of McGrath RentCorp from a "sell" rating to a "hold" rating in a report on Tuesday, October 22nd.

McGrath RentCorp Trading Down 0.1 %

McGrath RentCorp stock traded down $0.08 during trading on Tuesday, reaching $121.58. The company had a trading volume of 47,581 shares, compared to its average volume of 239,977. The firm's 50-day simple moving average is $113.42 and its 200 day simple moving average is $108.89. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $130.86. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.48. The firm had revenue of $266.76 million for the quarter, compared to analysts' expectations of $227.76 million. McGrath RentCorp had a return on equity of 13.64% and a net margin of 25.29%. The business's quarterly 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, analysts predict that McGrath RentCorp will post 5.5 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th were given a dividend of $0.475 per share. The ex-dividend date was Thursday, October 17th. This represents a $1.90 annualized dividend and a dividend yield of 1.56%. McGrath RentCorp's payout ratio is 20.77%.

McGrath RentCorp Company 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.