Snyder Capital Management L P Has $44.76 Million Stake in McGrath RentCorp (NASDAQ:MGRC)

Snyder Capital Management L P raised its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 400,250 shares of the financial services provider's stock after buying an additional 80,908 shares during the period. Snyder Capital Management L P owned 1.63% of McGrath RentCorp worth $44,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atala Financial Inc bought a new stake in shares of McGrath RentCorp during the fourth quarter worth approximately $31,000. New Age Alpha Advisors LLC bought a new position in McGrath RentCorp in the fourth quarter valued at $33,000. Canada Pension Plan Investment Board acquired a new position in McGrath RentCorp during the fourth quarter worth approximately $89,000. KBC Group NV increased its position in McGrath RentCorp by 37.3% during the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock worth $118,000 after buying an additional 286 shares during the last quarter. Finally, Xponance Inc. acquired a new position in shares of McGrath RentCorp in the fourth quarter valued at approximately $200,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 7,500 shares of the company's stock, valued at approximately $935,175. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company's stock.

McGrath RentCorp Trading Down 1.4 %

NASDAQ MGRC traded down $1.55 on Wednesday, hitting $106.01. 74,838 shares of the company's stock were exchanged, compared to its average volume of 177,856. The stock has a 50-day moving average of $111.35 and a 200-day moving average of $115.25. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.35 and a beta of 0.62. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. As a group, analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.83%. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Wednesday, April 16th. McGrath RentCorp's dividend payout ratio is presently 20.10%.

Analyst Upgrades and Downgrades

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

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.