3,122 Shares in McGrath RentCorp (NASDAQ:MGRC) Purchased by XTX Topco Ltd

XTX Topco Ltd bought a new stake in McGrath RentCorp (NASDAQ:MGRC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,122 shares of the financial services provider’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV boosted its position in shares of McGrath RentCorp by 32.5% during the 3rd quarter. KBC Group NV now owns 767 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 188 shares in the last quarter. Covestor Ltd boosted its holdings in shares of McGrath RentCorp by 15.8% in the 3rd quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 161 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of McGrath RentCorp in the 3rd quarter valued at $203,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of McGrath RentCorp by 5.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock worth $213,000 after buying an additional 104 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of McGrath RentCorp during the 3rd quarter worth $238,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Oppenheimer lifted their target price on McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. CJS Securities began coverage on shares of McGrath RentCorp in a report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price target on the stock. Finally, StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd.

McGrath RentCorp Stock Down 0.5 %

Shares of MGRC opened at $118.04 on Tuesday. The business has a 50-day simple moving average of $115.94 and a two-hundred day simple moving average of $109.51. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $130.86. The stock has a market cap of $2.90 billion, a PE ratio of 12.90, a PEG ratio of 1.68 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data 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 return on equity of 13.64% and a net margin of 25.29%. The company had revenue of $266.76 million during the quarter, compared to the consensus estimate of $227.76 million. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts expect that McGrath RentCorp will post 5.5 EPS for the current year.

McGrath RentCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, January 17th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.61%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 20.77%.

Insider Buying and Selling

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $114.62, for a total transaction of $114,620.00. Following the completion of the transaction, the director now owns 7,500 shares in the company, valued at approximately $859,650. This trade represents a 11.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gilda Malek sold 919 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold a total of 47,935 shares of company stock valued at $5,605,327 over the last 90 days. 1.60% of the stock is owned by insiders.

McGrath RentCorp 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.