Vaughan Nelson Investment Management L.P. Has $51.80 Million Position in McGrath RentCorp (NASDAQ:MGRC)

Vaughan Nelson Investment Management L.P. increased its holdings in McGrath RentCorp (NASDAQ:MGRC) by 26.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 486,190 shares of the financial services provider’s stock after buying an additional 100,210 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in McGrath RentCorp were worth $51,803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in shares of McGrath RentCorp during the first quarter valued at $66,000. SG Americas Securities LLC acquired a new position in McGrath RentCorp in the first quarter valued at about $171,000. TFG Advisers LLC bought a new stake in McGrath RentCorp during the first quarter worth about $203,000. J.W. Cole Advisors Inc. bought a new stake in McGrath RentCorp during the first quarter worth about $210,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of McGrath RentCorp during the first quarter worth approximately $213,000. Institutional investors own 92.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded McGrath RentCorp from a “hold” rating to a “sell” rating in a report on Wednesday.

McGrath RentCorp Trading Down 0.3 %

NASDAQ MGRC traded down $0.31 on Friday, hitting $105.39. 91,884 shares of the company were exchanged, compared to its average volume of 222,746. McGrath RentCorp has a 1-year low of $95.71 and a 1-year high of $130.86. The firm has a 50 day moving average of $106.54 and a two-hundred day moving average of $113.69. The company has a market cap of $2.59 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.51 and a beta of 0.77.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.41). The company had revenue of $212.60 million for the quarter, compared to analyst estimates of $210.23 million. McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. McGrath RentCorp’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. Research analysts anticipate that McGrath RentCorp will post 5.45 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th were given a $0.475 dividend. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.80%. McGrath RentCorp’s payout ratio is 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.