California Public Employees Retirement System increased its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 13.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 59,916 shares of the financial services provider’s stock after purchasing an additional 7,316 shares during the period. California Public Employees Retirement System’s holdings in McGrath RentCorp were worth $2,621,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MGRC. Chartwell Investment Partners LLC increased its stake in shares of McGrath RentCorp by 94.2% during the third quarter. Chartwell Investment Partners LLC now owns 216,385 shares of the financial services provider’s stock valued at $9,466,000 after buying an additional 104,973 shares during the period. HCSF Management LLC increased its stake in shares of McGrath RentCorp by 36.9% during the second quarter. HCSF Management LLC now owns 387,830 shares of the financial services provider’s stock valued at $13,431,000 after buying an additional 104,610 shares during the period. SG Capital Management LLC purchased a new position in shares of McGrath RentCorp during the third quarter valued at $1,934,000. Northern Trust Corp increased its stake in shares of McGrath RentCorp by 8.9% during the second quarter. Northern Trust Corp now owns 511,116 shares of the financial services provider’s stock valued at $17,701,000 after buying an additional 41,984 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in McGrath RentCorp by 23.0% in the second quarter. Goldman Sachs Group Inc. now owns 196,166 shares of the financial services provider’s stock valued at $6,793,000 after purchasing an additional 36,623 shares during the last quarter. Hedge funds and other institutional investors own 82.61% of the company’s stock.

McGrath RentCorp (NASDAQ:MGRC) opened at $49.40 on Wednesday. McGrath RentCorp has a 52 week low of $32.09 and a 52 week high of $50.62. The stock has a market capitalization of $1,193.44, a PE ratio of 26.00, a price-to-earnings-growth ratio of 2.23 and a beta of 1.02.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.12. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The company had revenue of $135.39 million for the quarter, compared to analyst estimates of $124.90 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. analysts expect that McGrath RentCorp will post 2.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, January 16th. This represents a $1.04 annualized dividend and a yield of 2.11%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 54.74%.

Several equities analysts have issued reports on MGRC shares. ValuEngine lowered McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research note on Friday, November 3rd. BidaskClub lowered McGrath RentCorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Finally, Oppenheimer reiterated a “hold” rating on shares of McGrath RentCorp in a research note on Wednesday, November 1st.

In other McGrath RentCorp news, CFO Keith E. Pratt sold 2,284 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $47.00, for a total value of $107,348.00. Following the completion of the sale, the chief financial officer now owns 28,118 shares of the company’s stock, valued at $1,321,546. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dennis P. Stradford sold 3,900 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total value of $192,699.00. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $247,050. The disclosure for this sale can be found here. Insiders sold 13,159 shares of company stock worth $628,935 in the last quarter. 4.60% of the stock is owned by insiders.

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About McGrath RentCorp

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).

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Institutional Ownership by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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