3,300 Shares in McGrath RentCorp (NASDAQ:MGRC) Bought by Bayesian Capital Management LP

Bayesian Capital Management LP acquired a new stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,300 shares of the financial services provider's stock, valued at approximately $369,000.

A number of other large investors also recently bought and sold shares of MGRC. Atala Financial Inc acquired a new position in shares of McGrath RentCorp during the fourth quarter worth about $31,000. New Age Alpha Advisors LLC acquired a new position in McGrath RentCorp during the 4th quarter worth approximately $33,000. Canada Pension Plan Investment Board acquired a new position in McGrath RentCorp during the 4th quarter worth approximately $89,000. KBC Group NV raised 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 buying an additional 286 shares in the last quarter. Finally, Xponance Inc. acquired a new stake in shares of McGrath RentCorp in the 4th quarter valued at approximately $200,000. Hedge funds and other institutional investors own 92.05% of the company's stock.

McGrath RentCorp Stock Up 1.0 %

Shares of NASDAQ MGRC opened at $108.96 on Thursday. The firm has a 50-day moving average price of $109.35 and a 200 day moving average price of $115.19. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.15 EPS for the quarter, topping 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 business had revenue of $195.42 million for the quarter, compared to analyst estimates of $189.03 million. During the same quarter in the previous year, the company earned $0.93 EPS. The company's quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts expect that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th were issued a $0.485 dividend. This is a positive change from McGrath RentCorp's previous quarterly dividend of $0.48. The ex-dividend date was Wednesday, April 16th. This represents a $1.94 annualized dividend and a yield of 1.78%. McGrath RentCorp's dividend payout ratio is 20.10%.

Insider Activity

In other news, 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 transaction, the chief executive officer now directly owns 176,897 shares of the company's stock, valued at $19,262,314.33. This trade represents a 3.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimberly Ann Box sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total value of $124,690.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at approximately $935,175. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,371 shares of company stock worth $1,228,431 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.

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