26,000 Shares in McGrath RentCorp (NASDAQ:MGRC) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 26,000 shares of the financial services provider’s stock, valued at approximately $3,208,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.11% of McGrath RentCorp as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Capital Research Global Investors acquired a new position in shares of McGrath RentCorp in the 4th quarter valued at approximately $55,950,000. Public Employees Retirement Association of Colorado lifted its stake in McGrath RentCorp by 3,216.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 248,844 shares of the financial services provider’s stock worth $29,767,000 after purchasing an additional 241,340 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of McGrath RentCorp in the 4th quarter valued at $25,329,000. Norges Bank bought a new position in shares of McGrath RentCorp in the 4th quarter valued at $19,469,000. Finally, Wellington Management Group LLP raised its holdings in shares of McGrath RentCorp by 24.2% during the 4th quarter. Wellington Management Group LLP now owns 771,261 shares of the financial services provider’s stock worth $92,258,000 after buying an additional 150,253 shares in the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of McGrath RentCorp in a report on Sunday, July 21st. They issued a “hold” rating for the company.

McGrath RentCorp Stock Performance

Shares of MGRC opened at $115.62 on Friday. McGrath RentCorp has a 52 week low of $89.91 and a 52 week high of $130.86. The stock has a fifty day moving average of $108.10 and a 200-day moving average of $114.61. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.56 and a beta of 0.77.

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

McGrath RentCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Wednesday, July 17th. McGrath RentCorp’s dividend payout ratio is currently 37.04%.

McGrath RentCorp Company 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.