Jane Street Group LLC Sells 36,658 Shares of McGrath RentCorp (NASDAQ:MGRC)

Jane Street Group LLC cut its position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 93.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,513 shares of the financial services provider's stock after selling 36,658 shares during the quarter. Jane Street Group LLC's holdings in McGrath RentCorp were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGRC. Atala Financial Inc bought a new position in McGrath RentCorp in the 4th quarter valued at $31,000. New Age Alpha Advisors LLC purchased a new position in McGrath RentCorp during the fourth quarter valued at approximately $33,000. Canada Pension Plan Investment Board purchased a new stake in shares of McGrath RentCorp in the 4th quarter valued at about $89,000. KBC Group NV raised 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 valued at $118,000 after purchasing an additional 286 shares in the last quarter. Finally, Xponance Inc. bought a new stake in shares of McGrath RentCorp during the 4th quarter worth $200,000. Hedge funds and other institutional investors own 92.05% of the company's stock.

McGrath RentCorp Trading Up 0.5%

Shares of NASDAQ:MGRC traded up $0.62 during trading on Friday, reaching $114.24. 140,135 shares of the company traded hands, compared to its average volume of 183,599. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.35 and a beta of 0.66. The business's fifty 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 results 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. 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. McGrath RentCorp's revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, COO Philip B. Hawkins sold 4,804 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $103.57, for a total transaction of $497,550.28. Following the sale, the chief operating officer now directly owns 3,150 shares of the company's stock, valued at approximately $326,245.50. This represents a 60.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO David M. Whitney sold 500 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $116.01, for a total transaction of $58,005.00. Following the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at $1,034,229.15. This trade represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,313 shares of company stock worth $2,005,372. 1.60% of the stock is currently owned by corporate insiders.

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.