McGrath RentCorp (NASDAQ:MGRC) Shares Acquired by Susquehanna International Group LLP

Susquehanna International Group LLP raised its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 4,821.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,048 shares of the financial services provider's stock after acquiring an additional 46,092 shares during the quarter. Susquehanna International Group LLP owned approximately 0.19% of McGrath RentCorp worth $5,261,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MGRC. Vanguard Group Inc. increased its position in shares of McGrath RentCorp by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,726,133 shares of the financial services provider's stock worth $304,836,000 after purchasing an additional 29,467 shares in the last quarter. River Road Asset Management LLC raised its stake in McGrath RentCorp by 52.1% in the fourth quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider's stock valued at $212,116,000 after buying an additional 649,567 shares during the last quarter. Franklin Resources Inc. boosted its holdings in McGrath RentCorp by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 1,199,169 shares of the financial services provider's stock worth $134,091,000 after acquiring an additional 87,329 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of McGrath RentCorp by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 788,760 shares of the financial services provider's stock worth $88,198,000 after acquiring an additional 50,674 shares during the last quarter. Finally, Swedbank AB increased its holdings in shares of McGrath RentCorp by 30.0% during the fourth quarter. Swedbank AB now owns 325,000 shares of the financial services provider's stock valued at $36,342,000 after acquiring an additional 75,000 shares in the last quarter. 92.05% of the stock is owned by institutional investors.

McGrath RentCorp Price Performance

McGrath RentCorp stock traded down $0.60 during trading hours on Tuesday, hitting $107.90. 120,149 shares of the stock traded hands, compared to its average volume of 180,018. The firm's 50 day moving average price is $109.93 and its 200-day moving average price is $115.29. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 1.35 and a beta of 0.66. 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 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. 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 during the quarter, compared to analyst estimates of $189.03 million. During the same quarter last year, the business posted $0.93 EPS. The company's revenue was up 4.0% on a year-over-year basis. Research analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.80%. The ex-dividend date was Wednesday, April 16th. This is a positive change from McGrath RentCorp's previous quarterly dividend of $0.48. McGrath RentCorp's payout ratio is presently 20.10%.

Insiders Place Their Bets

In other McGrath RentCorp 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 transaction, the chief operating officer now owns 3,150 shares in the company, valued at approximately $326,245.50. This trade represents a 60.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimberly Ann Box sold 1,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total transaction of $124,690.00. Following the sale, the director now directly owns 7,500 shares of the company's stock, valued at $935,175. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,371 shares of company stock worth $1,228,431. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research note 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.