AdvisorShares Investments LLC Has $7.13 Million Position in McGrath RentCorp (NASDAQ:MGRC)

AdvisorShares Investments LLC boosted its holdings in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 29.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,794 shares of the financial services provider's stock after acquiring an additional 14,324 shares during the quarter. McGrath RentCorp comprises about 1.4% of AdvisorShares Investments LLC's investment portfolio, making the stock its 10th biggest holding. AdvisorShares Investments LLC owned 0.26% of McGrath RentCorp worth $7,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MGRC. Barclays PLC boosted its holdings in McGrath RentCorp by 351.6% during the third quarter. Barclays PLC now owns 40,555 shares of the financial services provider's stock worth $4,269,000 after buying an additional 31,575 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of McGrath RentCorp by 57.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider's stock worth $119,456,000 after acquiring an additional 404,884 shares during the last quarter. Empirical Asset Management LLC purchased a new stake in shares of McGrath RentCorp during the fourth quarter valued at $207,000. Janney Montgomery Scott LLC boosted its position in shares of McGrath RentCorp by 4.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider's stock valued at $933,000 after purchasing an additional 357 shares during the period. Finally, KBC Group NV increased its stake in McGrath RentCorp by 37.3% in the 4th 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. 92.05% of the stock is owned by institutional investors and hedge funds.

McGrath RentCorp Stock Up 2.1 %

Shares of MGRC traded up $2.25 during mid-day trading on Friday, reaching $109.62. The company's stock had a trading volume of 198,718 shares, compared to its average volume of 179,898. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. The business has a fifty day moving average of $110.26 and a 200 day moving average of $115.24. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its earnings results 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 25.44% and a return on equity of 13.68%. The company had revenue of $195.42 million during the quarter, compared to the consensus estimate of $189.03 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The company's revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was 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 presently 20.10%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, COO Philip B. Hawkins sold 4,804 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $103.57, for a total value of $497,550.28. Following the completion of the transaction, the chief operating officer now directly owns 3,150 shares of the company's stock, valued at $326,245.50. This trade represents a 60.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at $935,175. This trade represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

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.