Trexquant Investment LP Purchases New Holdings in McGrath RentCorp (NASDAQ:MGRC)

Trexquant Investment LP purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,556 shares of the financial services provider's stock, valued at approximately $1,069,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. River Road Asset Management LLC increased its position in shares of McGrath RentCorp by 52.1% in the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider's stock worth $212,116,000 after acquiring an additional 649,567 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of McGrath RentCorp by 57.3% in the third quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider's stock worth $119,456,000 after buying an additional 404,884 shares during the period. Raymond James Financial Inc. purchased a new position in shares of McGrath RentCorp during the fourth quarter valued at $13,179,000. Neumeier Poma Investment Counsel LLC raised its position in McGrath RentCorp by 127.1% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 204,806 shares of the financial services provider's stock valued at $22,901,000 after buying an additional 114,626 shares during the period. Finally, FMR LLC boosted its position in McGrath RentCorp by 3,120.0% during the 3rd quarter. FMR LLC now owns 116,791 shares of the financial services provider's stock worth $12,296,000 after acquiring an additional 113,164 shares during the period. 92.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total value of $124,690.00. Following the transaction, the director now directly owns 7,500 shares of the company's stock, valued at approximately $935,175. This trade represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of McGrath RentCorp from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

McGrath RentCorp Stock Down 0.7 %

McGrath RentCorp stock traded down $0.72 during trading hours on Wednesday, hitting $105.39. The stock had a trading volume of 4,589 shares, compared to its average volume of 179,813. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $129.93. The company has a market cap of $2.59 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 1.35 and a beta of 0.62. The company has a 50-day moving average of $114.89 and a two-hundred day moving average of $115.38.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The firm had revenue of $243.75 million during the quarter, compared to the consensus estimate of $246.93 million. As a group, analysts forecast that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.48. McGrath RentCorp's payout ratio is 20.57%.

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.