McGrath RentCorp (NASDAQ:MGRC) Stock Holdings Lessened by Jane Street Group LLC

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

Other large investors have also made changes to their positions in the company. Atala Financial Inc purchased a new position in McGrath RentCorp in the fourth quarter valued at about $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of McGrath RentCorp in the fourth quarter valued at about $33,000. Canada Pension Plan Investment Board purchased a new stake in shares of McGrath RentCorp during the 4th quarter valued at about $89,000. KBC Group NV raised its holdings 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 valued at $118,000 after buying an additional 286 shares during the period. Finally, Xponance Inc. acquired a new position in McGrath RentCorp during the 4th quarter worth approximately $200,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McGrath RentCorp

In other news, CEO Joseph F. Hanna sold 5,567 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $108.89, for a total value of $606,190.63. Following the completion of the sale, the chief executive officer now owns 176,897 shares in the company, valued at $19,262,314.33. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP John P. Skenesky sold 2,500 shares of McGrath RentCorp stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $111.32, for a total value of $278,300.00. Following the transaction, the vice president now directly owns 8,692 shares in the company, valued at approximately $967,593.44. The trade was a 22.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,871 shares of company stock valued at $1,382,041. Company insiders own 1.60% of the company's stock.

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC traded down $0.37 during mid-day trading on Thursday, hitting $113.62. The company had a trading volume of 91,912 shares, compared to its average volume of 182,859. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.35 and a beta of 0.66. The firm's 50 day simple moving average is $109.35 and its two-hundred day simple moving average is $115.02.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its 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. The company 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 last year, the business posted $0.93 earnings per share. Equities analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be given 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 1.71%. McGrath RentCorp's dividend payout ratio (DPR) is 20.10%.

Wall Street Analysts Forecast Growth

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

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.