1,642 Shares in McGrath RentCorp (NASDAQ:MGRC) Acquired by TFG Advisers LLC

TFG Advisers LLC purchased a new position in shares of McGrath RentCorp (NASDAQ:MGRC) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 1,642 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors have also made changes to their positions in the stock. GSA Capital Partners LLP boosted its holdings in shares of McGrath RentCorp by 230.5% during the first quarter. GSA Capital Partners LLP now owns 5,529 shares of the financial services provider’s stock worth $682,000 after purchasing an additional 3,856 shares during the period. Fifth Lane Capital LP bought a new position in McGrath RentCorp during the first quarter valued at approximately $1,626,000. BNP Paribas Financial Markets raised its position in McGrath RentCorp by 9.9% during the first quarter. BNP Paribas Financial Markets now owns 21,971 shares of the financial services provider’s stock valued at $2,711,000 after acquiring an additional 1,976 shares in the last quarter. Peterson Wealth Services raised its position in McGrath RentCorp by 25.4% during the first quarter. Peterson Wealth Services now owns 21,925 shares of the financial services provider’s stock valued at $2,705,000 after acquiring an additional 4,442 shares in the last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in McGrath RentCorp during the first quarter valued at approximately $210,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of McGrath RentCorp in a research report on Friday, July 5th. They set a “hold” rating on the stock.

McGrath RentCorp Stock Up 1.1 %

Shares of NASDAQ:MGRC traded up $1.19 during trading on Friday, reaching $109.37. The stock had a trading volume of 6,684 shares, compared to its average volume of 232,692. McGrath RentCorp has a 52 week low of $89.91 and a 52 week high of $130.86. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.49 and a beta of 0.77. The stock has a fifty day simple moving average of $107.46 and a two-hundred day simple moving average of $115.00.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.20. McGrath RentCorp had a net margin of 14.70% and a return on equity of 13.43%. The company had revenue of $187.80 million for the quarter, compared to analyst estimates of $145.63 million. During the same quarter last year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, analysts forecast that McGrath RentCorp will post 5.5 EPS for the current year.

McGrath RentCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, July 17th. McGrath RentCorp’s dividend payout ratio is 37.04%.

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.