McGrath RentCorp (NASDAQ:MGRC) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,289 shares of the financial services provider's stock after acquiring an additional 8,500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.30% of McGrath RentCorp worth $8,195,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Atala Financial Inc purchased a new position in McGrath RentCorp in the fourth quarter worth about $31,000. New Age Alpha Advisors LLC purchased a new position in McGrath RentCorp in the fourth quarter worth about $33,000. Canada Pension Plan Investment Board purchased a new position in McGrath RentCorp in the fourth quarter worth about $89,000. KBC Group NV raised its holdings 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 buying an additional 286 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in McGrath RentCorp in the fourth quarter worth about $136,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McGrath RentCorp

In related news, CEO Joseph F. Hanna sold 5,567 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were 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 in the company, valued at approximately $19,262,314.33. This represents a 3.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Philip B. Hawkins sold 4,804 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $103.57, for a total transaction of $497,550.28. Following the completion of the transaction, the chief operating officer now owns 3,150 shares in the company, valued at approximately $326,245.50. This trade represents a 60.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,871 shares of company stock valued at $1,382,041 in the last three months. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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.

McGrath RentCorp Trading Down 2.0%

Shares of NASDAQ MGRC traded down $2.30 during mid-day trading on Wednesday, reaching $113.99. The company had a trading volume of 86,325 shares, compared to its average volume of 183,223. The business's 50-day moving average is $109.35 and its 200-day moving average is $115.02. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.02 by $0.13. The business had revenue of $195.42 million during the quarter, compared to analyst estimates of $189.03 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, equities research analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

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 given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.70%. McGrath RentCorp's payout ratio is currently 20.10%.

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.