Silvercrest Asset Management Group LLC Raises Stock Position in McGrath RentCorp (NASDAQ:MGRC)

Silvercrest Asset Management Group LLC boosted its holdings in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 333,046 shares of the financial services provider's stock after acquiring an additional 36,057 shares during the quarter. Silvercrest Asset Management Group LLC owned about 1.36% of McGrath RentCorp worth $37,241,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Atala Financial Inc acquired a new stake in shares of McGrath RentCorp in the fourth quarter valued at $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of McGrath RentCorp in the fourth quarter valued at $33,000. Canada Pension Plan Investment Board acquired a new stake in shares of McGrath RentCorp in the fourth quarter valued at $89,000. KBC Group NV raised its stake in shares of McGrath RentCorp by 37.3% in the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 286 shares in the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of McGrath RentCorp in the fourth quarter valued at $136,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McGrath RentCorp news, VP John P. Skenesky sold 2,500 shares of McGrath RentCorp stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $111.32, for a total value of $278,300.00. Following the sale, the vice president now owns 8,692 shares of the company's stock, valued at approximately $967,593.44. The trade was a 22.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph F. Hanna sold 5,567 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $108.89, for a total transaction of $606,190.63. Following the completion of the transaction, the chief executive officer now directly owns 176,897 shares of the company's stock, valued at approximately $19,262,314.33. This trade represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,871 shares of company stock valued at $1,506,731. 1.60% of the stock is currently owned by insiders.

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC traded up $0.81 during midday trading on Tuesday, hitting $116.58. 118,331 shares of the company's stock were exchanged, compared to its average volume of 180,901. The firm's fifty day simple moving average is $109.40 and its 200-day simple moving average is $115.39. The company has a market cap of $2.87 billion, a PE ratio of 12.36, a P/E/G ratio of 1.35 and a beta of 0.66. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $129.93.

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

McGrath RentCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th were issued a dividend of $0.485 per share. This is a positive change from McGrath RentCorp's previous quarterly dividend of $0.48. The ex-dividend date was Wednesday, April 16th. This represents a $1.94 annualized dividend and a dividend yield of 1.66%. McGrath RentCorp's dividend payout ratio (DPR) is presently 20.10%.

Analysts Set New Price Targets

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

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.