XTX Topco Ltd Buys 2,656 Shares of McGrath RentCorp (NASDAQ:MGRC)

XTX Topco Ltd increased its position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 85.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,778 shares of the financial services provider's stock after buying an additional 2,656 shares during the quarter. XTX Topco Ltd's holdings in McGrath RentCorp were worth $646,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MGRC. River Road Asset Management LLC grew 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 purchasing an additional 649,567 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of McGrath RentCorp by 57.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,111,840 shares of the financial services provider's stock worth $119,456,000 after acquiring an additional 404,884 shares during the period. Raymond James Financial Inc. acquired a new position in shares of McGrath RentCorp during the 4th quarter worth approximately $13,179,000. Neumeier Poma Investment Counsel LLC raised its stake in McGrath RentCorp by 127.1% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 204,806 shares of the financial services provider's stock valued at $22,901,000 after acquiring an additional 114,626 shares during the period. Finally, Norges Bank acquired a new stake in McGrath RentCorp during the 4th quarter valued at $9,724,000. 92.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of McGrath RentCorp from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

McGrath RentCorp Trading Up 0.6 %

Shares of NASDAQ:MGRC traded up $0.61 on Thursday, hitting $103.03. The company had a trading volume of 32,916 shares, compared to its average volume of 177,423. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.35 and a beta of 0.62. The stock has a 50 day moving average price of $112.84 and a 200 day moving average price of $115.26.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The firm had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. Sell-side analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a dividend yield of 1.88%. McGrath RentCorp's dividend payout ratio is 20.57%.

Insider Activity at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were 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 in the company, valued at $935,175. This represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

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.