McGrath RentCorp (NASDAQ:MGRC) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC increased its position in McGrath RentCorp (NASDAQ:MGRC) by 5.8% during the fourth quarter, Holdings Channel reports. The fund owned 14,832 shares of the financial services provider’s stock after purchasing an additional 813 shares during the quarter. MetLife Investment Management LLC’s holdings in McGrath RentCorp were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its stake in shares of McGrath RentCorp by 3.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,602 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 86 shares during the period. Summit Investment Advisors Inc. grew its holdings in McGrath RentCorp by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,553 shares of the financial services provider’s stock worth $285,000 after buying an additional 162 shares in the last quarter. Sei Investments Co. increased its position in McGrath RentCorp by 1.8% in the 4th quarter. Sei Investments Co. now owns 10,575 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 184 shares during the period. Forum Financial Management LP raised its stake in McGrath RentCorp by 11.2% during the 4th quarter. Forum Financial Management LP now owns 2,142 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 216 shares in the last quarter. Finally, Atala Financial Inc acquired a new position in McGrath RentCorp during the 4th quarter worth $31,000. 92.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Friday, April 25th.

McGrath RentCorp Price Performance

NASDAQ MGRC opened at $107.56 on Wednesday. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The firm has a market capitalization of $2.65 billion, a PE ratio of 11.41, a P/E/G ratio of 1.35 and a beta of 0.62. The company’s 50 day simple moving average is $111.35 and its 200 day simple moving average is $115.25.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $189.03 million. During the same quarter in the previous year, the business earned $0.93 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.485 per share. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 annualized dividend and a dividend yield of 1.80%. McGrath RentCorp’s dividend payout ratio (DPR) is 20.10%.

Insider Transactions at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total value of $124,690.00. Following the transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $935,175. This represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.