McGrath RentCorp (MGRC) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 296,292 shares of the financial services provider’s stock after selling 12,508 shares during the quarter. Royce & Associates LP owned 1.23% of McGrath RentCorp worth $12,963,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MGRC. Teachers Advisors LLC boosted its stake in shares of McGrath RentCorp by 3.5% during the 1st quarter. Teachers Advisors LLC now owns 38,817 shares of the financial services provider’s stock valued at $1,303,000 after buying an additional 1,324 shares during the last quarter. Morgan Stanley lifted its stake in McGrath RentCorp by 8.1% during the first quarter. Morgan Stanley now owns 117,542 shares of the financial services provider’s stock worth $3,946,000 after purchasing an additional 8,758 shares during the last quarter. Bank of America Corp DE lifted its stake in McGrath RentCorp by 9.7% during the first quarter. Bank of America Corp DE now owns 9,417 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 830 shares during the last quarter. US Bancorp DE lifted its stake in McGrath RentCorp by 17,333.3% during the second quarter. US Bancorp DE now owns 4,184 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 4,160 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in McGrath RentCorp by 3.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 162,836 shares of the financial services provider’s stock worth $5,640,000 after purchasing an additional 4,754 shares during the last quarter. Institutional investors own 82.61% of the company’s stock.

A number of equities research analysts have issued reports on the company. Zacks Investment Research cut McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Oppenheimer reiterated a “hold” rating on shares of McGrath RentCorp in a research note on Wednesday, November 1st. Finally, ValuEngine cut McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.

In related news, Director Dennis P. Stradford sold 3,900 shares of McGrath RentCorp stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total transaction of $192,699.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $247,050. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William J. Dawson sold 4,000 shares of McGrath RentCorp stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $47.83, for a total value of $191,320.00. Following the transaction, the director now directly owns 15,543 shares in the company, valued at $743,421.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,159 shares of company stock worth $628,935. 4.60% of the stock is owned by corporate insiders.

Shares of McGrath RentCorp (NASDAQ:MGRC) opened at $44.85 on Wednesday. The stock has a market capitalization of $1,085.53, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.21 and a beta of 1.02. McGrath RentCorp has a one year low of $32.09 and a one year high of $49.66.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. The company had revenue of $135.39 million for the quarter, compared to analyst estimates of $124.90 million. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. sell-side analysts expect that McGrath RentCorp will post 2.04 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Tuesday, January 16th. McGrath RentCorp’s payout ratio is currently 54.74%.

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McGrath RentCorp Company Profile

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).

Institutional Ownership by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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