XTX Topco Ltd Buys 2,656 Shares of McGrath RentCorp (NASDAQ:MGRC)

XTX Topco Ltd raised its position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 85.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,778 shares of the financial services provider's stock after purchasing an additional 2,656 shares during the quarter. XTX Topco Ltd's holdings in McGrath RentCorp were worth $646,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. O Shaughnessy Asset Management LLC increased its holdings in shares of McGrath RentCorp by 3.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider's stock valued at $291,000 after buying an additional 86 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of McGrath RentCorp by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,553 shares of the financial services provider's stock valued at $285,000 after purchasing an additional 162 shares during the last quarter. Sei Investments Co. boosted its position in shares of McGrath RentCorp by 1.8% in the 4th quarter. Sei Investments Co. now owns 10,575 shares of the financial services provider's stock valued at $1,182,000 after purchasing an additional 184 shares during the period. Atala Financial Inc acquired a new stake in McGrath RentCorp during the 4th quarter worth about $31,000. Finally, KBC Group NV lifted its stake in McGrath RentCorp by 37.3% during the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock valued at $118,000 after buying an additional 286 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.00. Following the transaction, the director now directly owns 7,500 shares of the company's stock, valued at $935,175. This represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

McGrath RentCorp Stock Up 1.1 %

Shares of MGRC traded up $1.13 during trading hours on Wednesday, reaching $102.99. The company's stock had a trading volume of 73,383 shares, compared to its average volume of 177,801. The company has a 50 day moving average of $113.19 and a two-hundred day moving average of $115.35. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 1.35 and a beta of 0.62. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93.

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

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.88%. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. McGrath RentCorp's payout ratio is currently 20.57%.

Analysts Set New Price Targets

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

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.