Blue Trust Inc. Has $51,000 Holdings in McGrath RentCorp (NASDAQ:MGRC)

Blue Trust Inc. decreased its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 86.7% in the 3rd quarter, Holdings Channel reports. The fund owned 477 shares of the financial services provider’s stock after selling 3,113 shares during the period. Blue Trust Inc.’s holdings in McGrath RentCorp were worth $51,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of McGrath RentCorp in the 1st quarter valued at $171,000. TFG Advisers LLC acquired a new stake in shares of McGrath RentCorp during the first quarter valued at about $203,000. J.W. Cole Advisors Inc. bought a new stake in shares of McGrath RentCorp during the first quarter worth about $210,000. Meeder Asset Management Inc. acquired a new position in shares of McGrath RentCorp in the first quarter valued at approximately $213,000. Finally, Aristides Capital LLC bought a new position in McGrath RentCorp in the 1st quarter valued at approximately $239,000. Institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Price Performance

Shares of MGRC opened at $113.70 on Friday. The business has a 50-day moving average of $106.60 and a 200-day moving average of $107.35. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 1.82 and a beta of 0.75. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $130.86.

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, topping analysts’ consensus estimates of $1.39 by $0.48. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The firm had revenue of $266.76 million for the quarter, compared to the consensus estimate of $227.76 million. During the same quarter in the previous year, the company earned $1.65 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that McGrath RentCorp will post 4.48 EPS for the current year.

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.67%. McGrath RentCorp’s payout ratio is currently 37.04%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Oppenheimer boosted their price objective on shares of McGrath RentCorp from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th.

Insider Transactions at McGrath RentCorp

In related news, VP David M. Whitney sold 5,176 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $117.00, for a total transaction of $605,592.00. Following the completion of the sale, the vice president now owns 205 shares of the company’s stock, valued at $23,985. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other McGrath RentCorp news, VP David M. Whitney sold 5,176 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $117.00, for a total transaction of $605,592.00. Following the transaction, the vice president now directly owns 205 shares in the company, valued at approximately $23,985. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Dawson sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $115.00, for a total transaction of $2,300,000.00. Following the sale, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $460,000. This trade represents a 0.00 % 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 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.