UBS Asset Management Americas Inc. continued to hold its stake in shares of McGrath RentCorp (NASDAQ:MGRC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,900 shares of the financial services provider’s stock at the close of the second quarter. UBS Asset Management Americas Inc.’s holdings in McGrath RentCorp were worth $274,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its position in shares of McGrath RentCorp by 3.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 162,836 shares of the financial services provider’s stock worth $5,640,000 after acquiring an additional 4,754 shares in the last quarter. Bank of America Corp DE raised its position in shares of McGrath RentCorp by 9.7% in the 1st quarter. Bank of America Corp DE now owns 9,417 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 830 shares in the last quarter. AQR Capital Management LLC raised its position in shares of McGrath RentCorp by 16.4% in the 1st quarter. AQR Capital Management LLC now owns 99,768 shares of the financial services provider’s stock worth $3,349,000 after acquiring an additional 14,031 shares in the last quarter. Prudential Financial Inc. raised its position in shares of McGrath RentCorp by 55.0% in the 1st quarter. Prudential Financial Inc. now owns 58,036 shares of the financial services provider’s stock worth $1,949,000 after acquiring an additional 20,600 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of McGrath RentCorp by 1.3% in the 1st quarter. JPMorgan Chase & Co. now owns 40,743 shares of the financial services provider’s stock worth $1,368,000 after acquiring an additional 509 shares in the last quarter. 82.55% of the stock is owned by hedge funds and other institutional investors.

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

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Tuesday, October 17th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, October 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.12%. McGrath RentCorp’s payout ratio is 54.74%.

In related news, VP John P. Skenesky sold 7,561 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $38.47, for a total value of $290,871.67. Following the completion of the sale, the vice president now owns 6,387 shares in the company, valued at $245,707.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trease Kristina Van sold 1,043 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.82, for a total value of $41,532.26. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $755,504.86. The disclosure for this sale can be found here. Insiders sold 15,004 shares of company stock valued at $587,138 in the last quarter. 4.60% of the stock is owned by company insiders.

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Several brokerages have recently issued reports on MGRC. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 target price for the company in a research report on Friday. BidaskClub raised McGrath RentCorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday.

McGrath RentCorp Profile

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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