Barclays PLC Increases Holdings in McGrath RentCorp (NASDAQ:MGRC)

Barclays PLC increased its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,484 shares of the financial services provider's stock after buying an additional 3,929 shares during the quarter. Barclays PLC owned 0.18% of McGrath RentCorp worth $4,975,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in McGrath RentCorp by 57.3% during the third quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider's stock worth $119,456,000 after purchasing an additional 404,884 shares during the last quarter. Empirical Asset Management LLC purchased a new position in shares of McGrath RentCorp in the 4th quarter worth approximately $207,000. Janney Montgomery Scott LLC grew its holdings in shares of McGrath RentCorp by 4.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider's stock valued at $933,000 after acquiring an additional 357 shares in the last quarter. 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 purchasing an additional 286 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in McGrath RentCorp by 12.9% during the fourth quarter. Hantz Financial Services Inc. now owns 21,939 shares of the financial services provider's stock worth $2,453,000 after buying an additional 2,506 shares during the last quarter. Institutional investors own 92.05% of the company's stock.

Analyst Ratings Changes

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

McGrath RentCorp Price Performance

Shares of MGRC traded up $2.85 during mid-day trading on Friday, hitting $110.22. The stock had a trading volume of 30,277 shares, compared to its average volume of 178,466. The firm has a market cap of $2.71 billion, a P/E ratio of 11.69, a PEG ratio of 1.35 and a beta of 0.62. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The business has a fifty day moving average price of $110.58 and a 200-day moving average price of $115.19.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.13. The business had revenue of $195.42 million for the quarter, compared to analysts' expectations of $189.03 million. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 EPS. As a group, research analysts expect that McGrath RentCorp will post 6.18 earnings per share 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 paid a $0.485 dividend. The ex-dividend date was Wednesday, April 16th. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 1.76%. McGrath RentCorp's dividend payout ratio is currently 20.10%.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, COO Philip B. Hawkins sold 4,804 shares of McGrath RentCorp 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 sale, the chief operating officer now directly owns 3,150 shares in the company, valued at $326,245.50. The trade was a 60.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total transaction of $124,690.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $935,175. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

About McGrath RentCorp

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.