Janus Henderson Group PLC Has $5.52 Million Stock Holdings in McGrath RentCorp (NASDAQ:MGRC)

Janus Henderson Group PLC grew its stake in shares of McGrath RentCorp (NASDAQ:MGRC) by 30.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,331 shares of the financial services provider’s stock after purchasing an additional 11,412 shares during the quarter. Janus Henderson Group PLC owned about 0.20% of McGrath RentCorp worth $5,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Atala Financial Inc bought a new position in shares of McGrath RentCorp in the fourth quarter valued at $31,000. New Age Alpha Advisors LLC acquired a new stake in McGrath RentCorp in the fourth quarter valued at $33,000. Canada Pension Plan Investment Board bought a new position in shares of McGrath RentCorp in the 4th quarter valued at about $89,000. KBC Group NV increased its stake in shares of McGrath RentCorp by 37.3% during the 4th quarter. KBC Group NV now owns 1,053 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 286 shares during the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of McGrath RentCorp during the 4th quarter worth about $136,000. Institutional investors own 92.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday, April 25th.

Insider Activity

In related news, COO Philip B. Hawkins sold 4,804 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $103.57, for a total transaction of $497,550.28. Following the completion of the transaction, the chief operating officer now directly owns 3,150 shares in the company, valued at $326,245.50. This represents a 60.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph F. Hanna sold 5,567 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $108.89, for a total transaction of $606,190.63. Following the completion of the sale, the chief executive officer now owns 176,897 shares in the company, valued at $19,262,314.33. This represents a 3.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,871 shares of company stock worth $1,506,731. Corporate insiders own 1.60% of the company’s stock.

McGrath RentCorp Trading Up 0.6%

Shares of McGrath RentCorp stock opened at $115.74 on Monday. The company has a market cap of $2.85 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. The company has a 50 day moving average of $109.30 and a 200-day moving average of $115.39. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.13. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The company had revenue of $195.42 million for the quarter, compared to analyst estimates of $189.03 million. During the same quarter last year, the company posted $0.93 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th were issued a $0.485 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.48. McGrath RentCorp’s dividend payout ratio is 20.10%.

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.