Dynamic Technology Lab Private Ltd Purchases 2,307 Shares of McGrath RentCorp (NASDAQ:MGRC)

Dynamic Technology Lab Private Ltd boosted its position in McGrath RentCorp (NASDAQ:MGRC) by 29.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,055 shares of the financial services provider’s stock after purchasing an additional 2,307 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in McGrath RentCorp were worth $1,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MGRC. Atala Financial Inc bought a new position in shares of McGrath RentCorp in the 4th quarter worth about $31,000. New Age Alpha Advisors LLC purchased a new stake in McGrath RentCorp in the fourth quarter worth about $33,000. KBC Group NV increased its stake in shares of McGrath RentCorp by 37.3% during the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 286 shares in the last quarter. Xponance Inc. purchased a new position in shares of McGrath RentCorp during the fourth quarter valued at approximately $200,000. Finally, Empirical Asset Management LLC bought a new stake in shares of McGrath RentCorp in the 4th quarter worth approximately $207,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Analyst Ratings Changes

MGRC has been the subject of a number of analyst reports. StockNews.com lowered McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. CJS Securities initiated coverage on McGrath RentCorp in a report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price target for the company.

McGrath RentCorp Stock Down 1.9 %

NASDAQ:MGRC opened at $105.12 on Friday. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.35 and a beta of 0.62. The company’s 50 day moving average price is $118.20 and its 200-day moving average price is $115.45.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The business had revenue of $243.75 million during the quarter, compared to analyst estimates of $246.93 million. As a group, sell-side analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a $0.485 dividend. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.48. The ex-dividend date is Wednesday, April 16th. This represents a $1.94 dividend on an annualized basis and a yield of 1.85%. McGrath RentCorp’s payout ratio is 20.57%.

Insider Activity

In related news, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.00. Following the transaction, the director now owns 7,500 shares in the company, valued at $935,175. This represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

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.