Wolf Group Capital Advisors Sells 2,449 Shares of McGrath RentCorp (NASDAQ:MGRC)

Wolf Group Capital Advisors lessened its holdings in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 14.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,052 shares of the financial services provider's stock after selling 2,449 shares during the period. Wolf Group Capital Advisors owned about 0.06% of McGrath RentCorp worth $1,565,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MGRC. Eminence Capital LP acquired a new stake in shares of McGrath RentCorp in the 4th quarter worth about $83,898,000. River Road Asset Management LLC raised its holdings in shares of McGrath RentCorp by 52.1% in the 4th quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider's stock worth $212,116,000 after acquiring an additional 649,567 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of McGrath RentCorp in the 4th quarter worth about $13,179,000. Neumeier Poma Investment Counsel LLC raised its holdings in shares of McGrath RentCorp by 127.1% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 204,806 shares of the financial services provider's stock worth $22,901,000 after acquiring an additional 114,626 shares during the last quarter. Finally, Algert Global LLC grew its position in McGrath RentCorp by 729.1% in the 4th quarter. Algert Global LLC now owns 118,660 shares of the financial services provider's stock worth $13,269,000 after purchasing an additional 104,348 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company's stock.

Insider Activity

In other news, CAO David M. Whitney sold 500 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $116.01, for a total transaction of $58,005.00. Following the completion of the transaction, the chief accounting officer now directly owns 8,915 shares of the company's stock, valued at $1,034,229.15. This represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $606,190.63. Following the transaction, the chief executive officer now directly owns 176,897 shares of the company's stock, valued at $19,262,314.33. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,313 shares of company stock valued at $2,005,372 in the last three months. Company insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

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

McGrath RentCorp Stock Down 2.5%

MGRC stock traded down $2.86 during trading on Friday, reaching $111.30. The stock had a trading volume of 196,563 shares, compared to its average volume of 185,088. McGrath RentCorp has a one year low of $95.50 and a one year high of $129.93. The company's 50 day moving average is $111.24 and its two-hundred day moving average is $114.48. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.16 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.13. McGrath RentCorp had a net margin of 25.81% and a return on equity of 13.57%. The business had revenue of $195.42 million during the quarter, compared to the consensus estimate of $189.03 million. During the same period in the prior year, the firm posted $0.93 EPS. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, July 17th. McGrath RentCorp's dividend 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.