McGrath RentCorp (NASDAQ:MGRC) Shares Sold by Inspire Investing LLC

Inspire Investing LLC decreased its holdings in McGrath RentCorp (NASDAQ:MGRC) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,586 shares of the financial services provider’s stock after selling 315 shares during the quarter. Inspire Investing LLC’s holdings in McGrath RentCorp were worth $401,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of McGrath RentCorp by 5.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 104 shares during the last quarter. Covestor Ltd increased its stake in McGrath RentCorp by 15.8% in the 3rd quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 161 shares in the last quarter. Sei Investments Co. raised its holdings in McGrath RentCorp by 4.1% during the 2nd quarter. Sei Investments Co. now owns 4,656 shares of the financial services provider’s stock worth $496,000 after buying an additional 183 shares during the period. The Manufacturers Life Insurance Company lifted its stake in McGrath RentCorp by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 10,397 shares of the financial services provider’s stock valued at $1,108,000 after buying an additional 185 shares in the last quarter. Finally, KBC Group NV boosted its holdings 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 worth $81,000 after buying an additional 188 shares during the period. Institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Stock Performance

MGRC stock opened at $122.66 on Monday. The stock has a market cap of $3.01 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.48 and a beta of 0.77. The firm has a 50 day simple moving average of $116.99 and a 200 day simple moving average of $111.36. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.39 by $0.48. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The business had revenue of $266.76 million for the quarter, compared to analysts’ expectations of $227.76 million. During the same period in the previous year, the company posted $1.65 EPS. McGrath RentCorp’s revenue was up 9.5% on a year-over-year basis. Sell-side analysts predict that McGrath RentCorp will post 5.5 EPS for the current year.

McGrath RentCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.55%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 20.77%.

Wall Street Analyst Weigh In

MGRC has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Oppenheimer increased their target price on McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, CJS Securities began coverage on McGrath RentCorp in a report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price target on the stock.

Insiders Place Their Bets

In related news, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $114.62, for a total value of $114,620.00. Following the transaction, the director now owns 7,500 shares in the company, valued at approximately $859,650. This represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joseph F. Hanna sold 15,840 shares of McGrath RentCorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $119.88, for a total transaction of $1,898,899.20. Following the completion of the sale, the chief executive officer now owns 155,409 shares of the company’s stock, valued at $18,630,430.92. This trade represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,935 shares of company stock valued at $5,605,327 in the last three months. Insiders own 1.60% of the company’s stock.

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.