Chicago Capital Management LLC Makes New $336,000 Investment in McGrath RentCorp (NASDAQ:MGRC)

Chicago Capital Management LLC bought a new position in shares of McGrath RentCorp (NASDAQ:MGRC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,725 shares of the financial services provider’s stock, valued at approximately $336,000.

Several other large investors also recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in McGrath RentCorp during the 1st quarter valued at approximately $66,000. SG Americas Securities LLC acquired a new stake in McGrath RentCorp during the 1st quarter valued at approximately $171,000. TFG Advisers LLC acquired a new stake in McGrath RentCorp during the 1st quarter valued at approximately $203,000. J.W. Cole Advisors Inc. acquired a new stake in McGrath RentCorp during the 1st quarter valued at approximately $210,000. Finally, Meeder Asset Management Inc. acquired a new stake in McGrath RentCorp during the 1st quarter valued at approximately $213,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Stock Performance

Shares of MGRC traded down $0.27 during trading hours on Friday, hitting $112.42. The stock had a trading volume of 131,470 shares, compared to its average volume of 232,257. The firm has a 50-day moving average price of $107.66 and a 200 day moving average price of $114.62. McGrath RentCorp has a fifty-two week low of $89.91 and a fifty-two week high of $130.86. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.70 and a beta of 0.77.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.20. McGrath RentCorp had a net margin of 14.70% and a return on equity of 13.43%. The firm had revenue of $187.80 million during the quarter, compared to analysts’ expectations of $145.63 million. During the same period in the previous year, the business posted $0.89 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, analysts predict that McGrath RentCorp will post 5.05 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, July 17th. McGrath RentCorp’s dividend payout ratio is currently 37.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of McGrath RentCorp in a research note on Saturday, July 13th. They set a “hold” rating for the company.

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.