Granahan Investment Management LLC Takes $4.64 Million Position in McGrath RentCorp (NASDAQ:MGRC)

Granahan Investment Management LLC purchased a new stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,533 shares of the financial services provider's stock, valued at approximately $4,644,000. Granahan Investment Management LLC owned about 0.17% of McGrath RentCorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Atala Financial Inc bought a new stake in McGrath RentCorp during the 4th quarter valued at $31,000. New Age Alpha Advisors LLC bought a new position in McGrath RentCorp during the fourth quarter valued at about $33,000. Canada Pension Plan Investment Board purchased a new stake in shares of McGrath RentCorp during the fourth quarter valued at $89,000. KBC Group NV lifted its holdings in shares of McGrath RentCorp by 37.3% during the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 286 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of McGrath RentCorp during the fourth quarter valued at $136,000. Hedge funds and other institutional investors own 92.05% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday, April 25th.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total value of $124,690.00. Following the completion of the transaction, the director now owns 7,500 shares in the company, valued at approximately $935,175. The trade was a 11.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph F. Hanna sold 5,567 shares of McGrath RentCorp stock in a transaction 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 completion of the transaction, the chief executive officer now owns 176,897 shares of the company's stock, valued at approximately $19,262,314.33. The trade was a 3.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,871 shares of company stock worth $1,506,731. 1.60% of the stock is currently owned by insiders.

McGrath RentCorp Stock Down 1.2%

Shares of MGRC stock traded down $1.35 during mid-day trading on Wednesday, reaching $114.11. The stock had a trading volume of 123,513 shares, compared to its average volume of 180,762. The firm's 50 day simple moving average is $109.06 and its 200 day simple moving average is $115.41. McGrath RentCorp has a one year low of $95.50 and a one year high of $129.93. The firm has a market cap of $2.81 billion, a PE ratio of 12.10, a P/E/G ratio of 1.35 and a beta of 0.66.

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

McGrath RentCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th were given a $0.485 dividend. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $1.94 annualized dividend and a yield of 1.70%. McGrath RentCorp's payout ratio is presently 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.