DC Investments Management LLC Makes New Investment in McGrath RentCorp (NASDAQ:MGRC)

DC Investments Management LLC purchased a new stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 8,901 shares of the financial services provider's stock, valued at approximately $995,000.

Several other hedge funds have also modified their holdings of MGRC. Atala Financial Inc acquired a new position in McGrath RentCorp in the fourth quarter worth about $31,000. New Age Alpha Advisors LLC bought a new position in shares of McGrath RentCorp in the fourth quarter valued at approximately $33,000. Canada Pension Plan Investment Board bought a new stake in shares of McGrath RentCorp in the 4th quarter worth $89,000. KBC Group NV lifted its holdings in McGrath RentCorp by 37.3% in the 4th quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 286 shares during the last quarter. Finally, Xponance Inc. acquired a new position in McGrath RentCorp in the fourth quarter worth approximately $200,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

McGrath RentCorp Trading Up 0.8%

Shares of McGrath RentCorp stock traded up $0.92 during trading on Tuesday, reaching $114.66. The company's stock had a trading volume of 48,477 shares, compared to its average volume of 179,970. McGrath RentCorp has a one year low of $95.50 and a one year high of $129.93. The stock has a 50-day moving average price of $109.05 and a two-hundred day moving average price of $115.40. The stock has a market capitalization of $2.82 billion, a P/E ratio of 12.16, 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 earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.13. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The company had revenue of $195.42 million for the quarter, compared to analyst estimates of $189.03 million. During the same period in the prior year, the business earned $0.93 earnings per share. McGrath RentCorp's quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th were given a dividend of $0.485 per share. The ex-dividend date was Wednesday, April 16th. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a yield of 1.69%. McGrath RentCorp's dividend payout ratio is presently 20.10%.

Insider Buying and Selling at McGrath RentCorp

In other news, VP John P. Skenesky sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $111.32, for a total value of $278,300.00. Following the completion of the transaction, the vice president now owns 8,692 shares in the company, valued at $967,593.44. This represents a 22.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph F. Hanna sold 5,567 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $108.89, for a total value of $606,190.63. Following the transaction, the chief executive officer now owns 176,897 shares of the company's stock, valued at approximately $19,262,314.33. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,871 shares of company stock valued at $1,506,731. 1.60% of the stock is currently owned by insiders.

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.