McGrath RentCorp (NASDAQ:MGRC) Shares Bought by One Wealth Advisors LLC

One Wealth Advisors LLC boosted its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 23.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,828 shares of the financial services provider's stock after buying an additional 3,971 shares during the period. One Wealth Advisors LLC owned approximately 0.08% of McGrath RentCorp worth $2,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas purchased a new stake in McGrath RentCorp in the first quarter worth $1,328,000. BNP Paribas Financial Markets boosted its position in McGrath RentCorp by 29.8% during the fourth quarter. BNP Paribas Financial Markets now owns 16,399 shares of the financial services provider's stock valued at $1,834,000 after purchasing an additional 3,767 shares in the last quarter. Ameriprise Financial Inc. raised its stake in McGrath RentCorp by 35.8% in the fourth quarter. Ameriprise Financial Inc. now owns 12,403 shares of the financial services provider's stock valued at $1,387,000 after buying an additional 3,272 shares during the last quarter. Nuveen Asset Management LLC raised its stake in McGrath RentCorp by 11.6% in the fourth quarter. Nuveen Asset Management LLC now owns 97,441 shares of the financial services provider's stock valued at $10,896,000 after buying an additional 10,107 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in McGrath RentCorp by 32.3% in the first quarter. Asset Management One Co. Ltd. now owns 45,772 shares of the financial services provider's stock valued at $5,099,000 after buying an additional 11,172 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company's stock.

Analysts Set New Price Targets

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

McGrath RentCorp Stock Up 7.4%

Shares of McGrath RentCorp stock traded up $8.54 on Friday, reaching $124.50. The company's stock had a trading volume of 220,990 shares, compared to its average volume of 123,230. The company has a market capitalization of $3.06 billion, a P/E ratio of 12.12, a PEG ratio of 1.21 and a beta of 0.66. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93. The stock has a 50-day moving average price of $115.99 and a 200-day moving average price of $114.96.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.16. The firm had revenue of $235.62 million for the quarter, compared to analyst estimates of $220.71 million. McGrath RentCorp had a return on equity of 13.65% and a net margin of 26.81%. The business's revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. Sell-side analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, July 17th. McGrath RentCorp's dividend payout ratio is presently 20.10%.

Insider Transactions at McGrath RentCorp

In other news, insider Trease Kristina Van sold 2,221 shares of McGrath RentCorp stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $114.21, for a total value of $253,660.41. Following the sale, the insider directly owned 6,694 shares of the company's stock, valued at $764,521.74. The trade was a 24.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Philip B. Hawkins sold 4,804 shares of McGrath RentCorp stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $103.57, for a total value of $497,550.28. Following the completion of the sale, the chief operating officer directly owned 3,150 shares in the company, valued at $326,245.50. This represents a 60.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,313 shares of company stock valued at $2,005,372. Insiders own 1.40% of the company's stock.

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.