Y Intercept Hong Kong Ltd Has $455,000 Stake in McGrath RentCorp (NASDAQ:MGRC)

Y Intercept Hong Kong Ltd reduced its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 34.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,067 shares of the financial services provider's stock after selling 2,166 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in McGrath RentCorp were worth $455,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. River Road Asset Management LLC boosted its stake in McGrath RentCorp by 68.2% in the 3rd quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider's stock valued at $131,324,000 after buying an additional 505,817 shares in the last quarter. Franklin Resources Inc. increased its position in shares of McGrath RentCorp by 57.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider's stock worth $119,456,000 after purchasing an additional 404,884 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of McGrath RentCorp during the 3rd quarter worth about $15,967,000. Clearline Capital LP bought a new position in McGrath RentCorp during the 3rd quarter valued at about $11,976,000. Finally, FMR LLC boosted its position in McGrath RentCorp by 3,120.0% in the third quarter. FMR LLC now owns 116,791 shares of the financial services provider's stock valued at $12,296,000 after buying an additional 113,164 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company's stock.

Insider Transactions at McGrath RentCorp

In other news, VP Gilda Malek sold 919 shares of McGrath RentCorp stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.78, for a total transaction of $111,915.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimberly Ann Box sold 1,000 shares of the business's 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 completion of the transaction, the director now directly owns 7,500 shares of the company's stock, valued at $935,175. This trade represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

McGrath RentCorp Stock Down 1.9 %

MGRC stock traded down $2.34 during midday trading on Monday, reaching $119.66. The company's stock had a trading volume of 227,389 shares, compared to its average volume of 148,455. The business's 50-day simple moving average is $118.86 and its 200-day simple moving average is $114.11. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The stock has a market cap of $2.94 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.35 and a beta of 0.77.

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

McGrath RentCorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $0.485 per share. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a yield of 1.62%. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.48. McGrath RentCorp's dividend payout ratio (DPR) is 20.57%.

Analysts Set New Price Targets

MGRC has been the topic of a number of research analyst reports. StockNews.com raised shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a report on Friday. CJS Securities assumed coverage on McGrath RentCorp in a report on Wednesday, December 11th. They issued an "outperform" rating and a $152.00 price target on the stock. Finally, Oppenheimer lifted their price objective on McGrath RentCorp from $124.00 to $139.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd.

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.