Vaughan Nelson Investment Management L.P. Takes Position in McGrath RentCorp (NASDAQ:MGRC)

Vaughan Nelson Investment Management L.P. bought a new stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 211,740 shares of the financial services provider's stock, valued at approximately $25,329,000. Vaughan Nelson Investment Management L.P. owned about 0.86% of McGrath RentCorp at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP increased its stake in McGrath RentCorp by 210.0% in the first quarter. Dark Forest Capital Management LP now owns 310 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 210 shares during the last quarter. Adirondack Trust Co. acquired a new position in McGrath RentCorp in the third quarter valued at $50,000. Lazard Asset Management LLC acquired a new stake in McGrath RentCorp during the first quarter worth about $51,000. Tower Research Capital LLC TRC increased its stake in McGrath RentCorp by 211.3% during the first quarter. Tower Research Capital LLC TRC now owns 607 shares of the financial services provider's stock worth $57,000 after acquiring an additional 412 shares during the last quarter. Finally, FMR LLC increased its stake in McGrath RentCorp by 14.1% during the second quarter. FMR LLC now owns 978 shares of the financial services provider's stock worth $74,000 after acquiring an additional 121 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

McGrath RentCorp Stock Down 0.2 %

NASDAQ:MGRC traded down $0.29 during trading hours on Friday, reaching $120.46. 243,844 shares of the stock were exchanged, compared to its average volume of 250,365. The firm has a 50 day simple moving average of $124.30 and a 200-day simple moving average of $112.16. McGrath RentCorp has a 52 week low of $85.63 and a 52 week high of $130.86. The stock has a market capitalization of $2.95 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.71 and a beta of 0.80.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.07). The company had revenue of $221.59 million for the quarter, compared to analyst estimates of $214.43 million. McGrath RentCorp had a return on equity of 13.63% and a net margin of 20.99%. As a group, analysts expect that McGrath RentCorp will post 5.42 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a $0.475 dividend. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 1.58%. The ex-dividend date is Monday, April 15th. McGrath RentCorp's dividend payout ratio (DPR) is currently 26.12%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on McGrath RentCorp in a research note on Thursday. They issued a "hold" rating for the company.

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.