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

Wolf Group Capital Advisors lowered its stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 14.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. 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 0.06% of McGrath RentCorp worth $1,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of McGrath RentCorp by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider's stock worth $304,836,000 after buying an additional 29,467 shares during the last quarter. River Road Asset Management LLC grew its stake 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 buying an additional 649,567 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of McGrath RentCorp by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 1,199,169 shares of the financial services provider's stock worth $134,091,000 after buying an additional 87,329 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of McGrath RentCorp by 11.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 917,631 shares of the financial services provider's stock worth $102,610,000 after buying an additional 97,290 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of McGrath RentCorp by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 788,760 shares of the financial services provider's stock worth $88,198,000 after buying an additional 50,674 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company's stock.

Insider Activity

In other news, CAO David M. Whitney sold 2,221 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $114.21, for a total transaction of $253,660.41. Following the transaction, the chief accounting officer now directly owns 6,694 shares of the company's stock, valued at $764,521.74. This represents a 24.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Trease Kristina Van sold 500 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $116.01, for a total value of $58,005.00. Following the transaction, the insider now directly owns 8,915 shares in the company, valued at $1,034,229.15. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,313 shares of company stock valued at $2,005,372 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

McGrath RentCorp Trading Up 1.5%

MGRC traded up $1.64 during trading on Thursday, hitting $114.16. 170,741 shares of the company's stock traded hands, compared to its average volume of 184,709. The company's 50 day simple moving average is $110.88 and its two-hundred day simple moving average is $114.65. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $129.93. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.19 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its 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. McGrath RentCorp had a return on equity of 13.57% and a net margin of 25.81%. The business had revenue of $195.42 million for the quarter, compared to the consensus estimate of $189.03 million. During the same period last year, the business posted $0.93 EPS. The company's revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that McGrath RentCorp will post 6.18 EPS for the current 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 issued a dividend of $0.485 per share. The ex-dividend date is Thursday, July 17th. This represents a $1.94 annualized dividend and a dividend yield of 1.70%. McGrath RentCorp's payout ratio is 20.10%.

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.