McGrath RentCorp (NASDAQ:MGRC) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC decreased its position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 734,269 shares of the financial services provider's stock after selling 18,844 shares during the period. McGrath RentCorp comprises 1.2% of River Road Asset Management LLC's investment portfolio, making the stock its 24th biggest position. River Road Asset Management LLC owned approximately 3.00% of McGrath RentCorp worth $87,833,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in McGrath RentCorp by 244.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,333 shares of the financial services provider's stock valued at $5,183,000 after purchasing an additional 30,737 shares in the last quarter. Vanguard Group Inc. raised its position in McGrath RentCorp by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,679,998 shares of the financial services provider's stock valued at $268,643,000 after purchasing an additional 22,273 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in McGrath RentCorp in the 4th quarter valued at about $25,329,000. UBS Group AG raised its position in McGrath RentCorp by 26.9% in the 3rd quarter. UBS Group AG now owns 61,326 shares of the financial services provider's stock valued at $6,147,000 after purchasing an additional 12,981 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in McGrath RentCorp in the 3rd quarter valued at about $838,000. Institutional investors and hedge funds own 92.05% of the company's stock.

McGrath RentCorp Price Performance

Shares of MGRC stock traded down $0.52 during midday trading on Wednesday, hitting $111.53. The company had a trading volume of 160,680 shares, compared to its average volume of 325,285. The company's 50 day simple moving average is $122.46 and its 200 day simple moving average is $112.97. McGrath RentCorp has a 52-week low of $85.97 and a 52-week high of $130.86. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.60 and a beta of 0.80.

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

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Monday, April 15th. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.47. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.70%. McGrath RentCorp's payout ratio is 26.69%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on McGrath RentCorp in a research report on Friday, April 12th. They set a "hold" rating on the stock.

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.