Hudson Edge Investment Partners Inc. Buys 921 Shares of McGrath RentCorp (NASDAQ:MGRC)

Hudson Edge Investment Partners Inc. raised its holdings in McGrath RentCorp (NASDAQ:MGRC) by 44.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,012 shares of the financial services provider’s stock after buying an additional 921 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in McGrath RentCorp were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of McGrath RentCorp by 5.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock valued at $213,000 after buying an additional 104 shares in the last quarter. Covestor Ltd lifted its stake in shares of McGrath RentCorp by 15.8% in the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after buying an additional 161 shares in the last quarter. KBC Group NV lifted its stake in shares of McGrath RentCorp by 32.5% in the third quarter. KBC Group NV now owns 767 shares of the financial services provider’s stock valued at $81,000 after buying an additional 188 shares in the last quarter. Dakota Wealth Management lifted its stake in shares of McGrath RentCorp by 3.9% in the third quarter. Dakota Wealth Management now owns 6,098 shares of the financial services provider’s stock valued at $642,000 after buying an additional 228 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of McGrath RentCorp by 4.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider’s stock valued at $933,000 after buying an additional 357 shares in the last quarter. 92.05% of the stock is owned by institutional investors.

Insider Transactions at McGrath RentCorp

In other news, VP Gilda Malek sold 919 shares of McGrath RentCorp stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.78, for a total transaction of $111,915.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

McGrath RentCorp Price Performance

MGRC opened at $127.18 on Friday. The company has a fifty day moving average price of $117.93 and a 200-day moving average price of $113.12. The firm has a market capitalization of $3.12 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.35 and a beta of 0.77. McGrath RentCorp has a one year low of $95.50 and a one year high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $243.75 million during the quarter, compared to analyst estimates of $246.93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. On average, analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.485 per share. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, April 16th. McGrath RentCorp’s payout ratio is currently 20.15%.

Analysts Set New Price Targets

A number of analysts recently issued reports on MGRC shares. StockNews.com downgraded shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Thursday. Oppenheimer lifted their price objective on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, CJS Securities started coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 price objective for the company.

About McGrath RentCorp

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.