3,578 Shares in McGrath RentCorp (NASDAQ:MGRC) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new position in McGrath RentCorp (NASDAQ:MGRC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,578 shares of the financial services provider's stock, valued at approximately $400,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Atala Financial Inc bought a new position in shares of McGrath RentCorp in the fourth quarter valued at approximately $31,000. New Age Alpha Advisors LLC bought a new position in McGrath RentCorp in the 4th quarter valued at $33,000. Canada Pension Plan Investment Board bought a new position in McGrath RentCorp in the 4th quarter valued at $89,000. KBC Group NV boosted its stake in McGrath RentCorp by 37.3% in the fourth 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 in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of McGrath RentCorp during the fourth quarter worth $136,000. 92.05% of the stock is owned by institutional investors.

McGrath RentCorp Stock Performance

McGrath RentCorp stock traded up $0.62 during trading hours on Friday, reaching $114.24. 140,135 shares of the company's stock traded hands, compared to its average volume of 183,599. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.35 and a beta of 0.66. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $129.93. The firm's 50 day moving average is $109.43 and its 200-day moving average is $114.97.

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 firm had revenue of $195.42 million for the quarter, compared to analysts' expectations of $189.03 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. Analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 17th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, July 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.70%. McGrath RentCorp's dividend payout ratio (DPR) is presently 20.10%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday, April 25th.

Insider Activity at McGrath RentCorp

In other McGrath RentCorp news, CEO Joseph F. Hanna sold 5,567 shares of McGrath RentCorp stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $108.89, for a total transaction of $606,190.63. Following the transaction, the chief executive officer now directly owns 176,897 shares in the company, valued at approximately $19,262,314.33. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO David M. Whitney sold 500 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $116.01, for a total transaction of $58,005.00. Following the sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $1,034,229.15. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,313 shares of company stock worth $2,005,372. 1.60% of the stock is 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.