McGrath RentCorp (NASDAQ:MGRC) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,931 shares of the financial services provider's stock after selling 2,296 shares during the quarter. Schroder Investment Management Group owned 0.76% of McGrath RentCorp worth $20,657,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Atala Financial Inc bought a new position in shares of McGrath RentCorp during the fourth quarter valued at approximately $31,000. New Age Alpha Advisors LLC bought a new position in McGrath RentCorp in the 4th quarter valued at $33,000. KBC Group NV increased its stake in McGrath RentCorp by 37.3% in the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock worth $118,000 after purchasing an additional 286 shares during the period. Xponance Inc. purchased a new stake in McGrath RentCorp in the fourth quarter worth $200,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of McGrath RentCorp during the third quarter worth $203,000. Institutional investors own 92.05% of the company's stock.

McGrath RentCorp Trading Down 0.4 %

Shares of MGRC traded down $0.46 during midday trading on Monday, reaching $104.66. 265,023 shares of the stock were exchanged, compared to its average volume of 181,682. The company has a market capitalization of $2.57 billion, a P/E ratio of 11.10, a PEG ratio of 1.35 and a beta of 0.62. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The company's 50 day moving average is $117.83 and its two-hundred day moving average is $115.61.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The company had revenue of $243.75 million for the quarter, compared to analysts' expectations of $246.93 million. On average, sell-side analysts expect that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a $0.485 dividend. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a yield of 1.85%. McGrath RentCorp's payout ratio is 20.57%.

Insiders Place Their Bets

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $124.69, for a total value of $124,690.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $935,175. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

MGRC has been the topic of several recent analyst reports. CJS Securities assumed coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They issued an "outperform" rating and a $152.00 price target on the stock. StockNews.com lowered shares of McGrath RentCorp from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

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.