Posted by admin on Jul 28th, 2022

Nisa Investment Advisors LLC increased its holdings in shares of McGrath RentCorp (NASDAQ:MGRC – Get Rating) by 21.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,483 shares of the financial services provider’s stock after acquiring an additional 433 shares during the quarter. Nisa Investment Advisors LLC’s holdings in McGrath RentCorp were worth $211,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MGRC. Brown Advisory Inc. increased its holdings in McGrath RentCorp by 3.4% during the 4th quarter. Brown Advisory Inc. now owns 499,028 shares of the financial services provider’s stock worth $40,052,000 after purchasing an additional 16,570 shares in the last quarter. BerganKDV Wealth Management LLC increased its holdings in McGrath RentCorp by 7.0% during the 4th quarter. BerganKDV Wealth Management LLC now owns 7,124 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 464 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in McGrath RentCorp during the 4th quarter worth about $122,000. CWM LLC bought a new position in McGrath RentCorp during the 4th quarter worth about $1,794,000. Finally, Qube Research & Technologies Ltd bought a new position in McGrath RentCorp during the 4th quarter worth about $784,000. Institutional investors own 92.27% of the company’s stock.

In other news, Director Elizabeth A. Fetter sold 1,400 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $82.15, for a total value of $115,010.00. Following the completion of the transaction, the director now owns 5,100 shares in the company, valued at approximately $418,965. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Dennis P. Stradford sold 1,000 shares of McGrath RentCorp stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $83.20, for a total transaction of $83,200.00. Following the completion of the transaction, the director now owns 9,200 shares in the company, valued at $765,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth A. Fetter sold 1,400 shares of McGrath RentCorp stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $82.15, for a total value of $115,010.00. Following the transaction, the director now owns 5,100 shares of the company’s stock, valued at approximately $418,965. The disclosure for this sale can be found here. Insiders sold 4,400 shares of company stock worth $361,690 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Shares of NASDAQ MGRC opened at $81.18 on Thursday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.98 and a beta of 0.80. The business has a 50-day moving average of $78.40 and a 200-day moving average of $80.08. McGrath RentCorp has a fifty-two week low of $67.08 and a fifty-two week high of $91.37.

McGrath RentCorp (NASDAQ:MGRC – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.20. The company had revenue of $145.37 million during the quarter, compared to analysts’ expectations of $146.41 million. McGrath RentCorp had a return on equity of 12.65% and a net margin of 14.21%. McGrath RentCorp’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. On average, sell-side analysts expect that McGrath RentCorp will post 4.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, July 14th. McGrath RentCorp’s payout ratio is 48.92%.

Separately, StockNews.com upgraded McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Monday.

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, electronic test equipment and related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

Want to see what other hedge funds are holding MGRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McGrath RentCorp (NASDAQ:MGRC – Get Rating).

Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.

Park Avenue Securities LLC Increases Stock Holdings in Vanguard Mega Cap Value ETF (NYSEARCA:MGV)

Comerica Bank Cuts Stock Holdings in Organon & Co. (NYSE:OGN)