McGrath RentCorp (NASDAQ:MGRC) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP boosted its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 16.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 94,404 shares of the financial services provider's stock after purchasing an additional 13,553 shares during the period. Marshall Wace LLP owned about 0.38% of McGrath RentCorp worth $10,556,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atala Financial Inc bought a new position in shares of McGrath RentCorp during the fourth quarter worth approximately $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of McGrath RentCorp during the fourth quarter worth $33,000. KBC Group NV increased 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 purchasing an additional 286 shares in the last quarter. Xponance Inc. acquired a new position in McGrath RentCorp during the 4th quarter worth approximately $200,000. Finally, Empirical Asset Management LLC acquired a new stake in shares of McGrath RentCorp in the 4th quarter worth about $207,000. 92.05% of the stock is owned by institutional investors.

McGrath RentCorp Stock Performance

Shares of McGrath RentCorp stock traded down $0.65 during trading on Friday, hitting $103.37. The company's stock had a trading volume of 145,505 shares, compared to its average volume of 177,966. The company has a fifty day simple moving average of $112.13 and a two-hundred day simple moving average of $115.31. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The company has a market capitalization of $2.54 billion, a PE ratio of 10.96, a P/E/G ratio of 1.35 and a beta of 0.62.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.13. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The business had revenue of $195.42 million for the quarter, compared to analysts' expectations of $189.03 million. As a group, analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.48. McGrath RentCorp's dividend payout ratio (DPR) is currently 20.57%.

Insider Transactions at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the 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 sale, the director now owns 7,500 shares in the company, valued at $935,175. This trade represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a report on Friday.

About McGrath RentCorp

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.