Wealth Enhancement Advisory Services LLC Has $213,000 Position in McGrath RentCorp (NASDAQ:MGRC)

Wealth Enhancement Advisory Services LLC lifted its holdings in McGrath RentCorp (NASDAQ:MGRC) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,024 shares of the financial services provider’s stock after purchasing an additional 104 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in McGrath RentCorp were worth $213,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MGRC. SG Americas Securities LLC bought a new position in McGrath RentCorp in the first quarter valued at approximately $171,000. Sei Investments Co. increased its position in shares of McGrath RentCorp by 2.9% during the first quarter. Sei Investments Co. now owns 4,473 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 126 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of McGrath RentCorp by 10.0% during the first quarter. Inspire Investing LLC now owns 3,522 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 320 shares during the period. State Board of Administration of Florida Retirement System lifted its position in McGrath RentCorp by 31.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,293 shares of the financial services provider’s stock valued at $1,146,000 after acquiring an additional 2,240 shares in the last quarter. Finally, Chicago Capital Management LLC acquired a new position in McGrath RentCorp in the 1st quarter worth $336,000. 92.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MGRC has been the topic of several recent research reports. StockNews.com raised McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their target price on McGrath RentCorp from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 25th.

Insider Buying and Selling

In other McGrath RentCorp news, CEO Joseph F. Hanna sold 15,840 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $119.88, for a total value of $1,898,899.20. Following the completion of the transaction, the chief executive officer now directly owns 155,409 shares in the company, valued at $18,630,430.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director William J. Dawson sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $115.00, for a total transaction of $2,300,000.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $460,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph F. Hanna sold 15,840 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $119.88, for a total transaction of $1,898,899.20. Following the sale, the chief executive officer now directly owns 155,409 shares in the company, valued at $18,630,430.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,016 shares of company stock worth $5,493,411. Corporate insiders own 1.60% of the company’s stock.

McGrath RentCorp Stock Down 1.3 %

NASDAQ MGRC opened at $120.00 on Wednesday. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $130.86. The firm’s 50 day moving average is $108.15 and its 200-day moving average is $107.75. The company has a market capitalization of $2.95 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.68 and a beta of 0.74.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.48. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The firm had revenue of $266.76 million for the quarter, compared to analyst estimates of $227.76 million. During the same period in the previous year, the business earned $1.65 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts expect that McGrath RentCorp will post 5.5 EPS for the current year.

McGrath RentCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were issued a dividend of $0.475 per share. The ex-dividend date was Thursday, October 17th. This represents a $1.90 annualized dividend and a yield of 1.58%. McGrath RentCorp’s payout ratio is presently 20.77%.

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.