Public Employees Retirement System of Ohio Has $4.05 Million Position in McGrath RentCorp (NASDAQ:MGRC)

Public Employees Retirement System of Ohio lessened its holdings in McGrath RentCorp (NASDAQ:MGRC) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,821 shares of the financial services provider’s stock after selling 3,947 shares during the period. Public Employees Retirement System of Ohio owned about 0.13% of McGrath RentCorp worth $4,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in McGrath RentCorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 2,691,278 shares of the financial services provider’s stock valued at $321,931,000 after purchasing an additional 11,280 shares in the last quarter. Capital Research Global Investors increased its stake in shares of McGrath RentCorp by 67.6% in the first quarter. Capital Research Global Investors now owns 784,021 shares of the financial services provider’s stock worth $96,725,000 after acquiring an additional 316,292 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of McGrath RentCorp by 24.2% in the fourth quarter. Wellington Management Group LLP now owns 771,261 shares of the financial services provider’s stock worth $92,258,000 after acquiring an additional 150,253 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of McGrath RentCorp during the first quarter worth $84,042,000. Finally, Vaughan Nelson Investment Management L.P. grew its stake in McGrath RentCorp by 82.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 385,980 shares of the financial services provider’s stock valued at $47,619,000 after purchasing an additional 174,240 shares in the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Stock Down 2.5 %

NASDAQ MGRC opened at $109.83 on Thursday. The stock has a market capitalization of $2.70 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. McGrath RentCorp has a 12-month low of $93.84 and a 12-month high of $130.86. The company has a 50 day moving average price of $108.00 and a two-hundred day moving average price of $114.63.

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

McGrath RentCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Wednesday, July 17th. McGrath RentCorp’s dividend payout ratio is 37.04%.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on McGrath RentCorp in a research note on Sunday, July 21st. 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.