McGrath RentCorp (NASDAQ:MGRC) Shares Purchased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. grew its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 82.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 385,980 shares of the financial services provider’s stock after acquiring an additional 174,240 shares during the period. Vaughan Nelson Investment Management L.P. owned about 1.58% of McGrath RentCorp worth $47,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MGRC. Capital Research Global Investors acquired a new stake in McGrath RentCorp during the 4th quarter valued at approximately $55,950,000. Public Employees Retirement Association of Colorado grew its position in shares of McGrath RentCorp by 3,216.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 248,844 shares of the financial services provider’s stock worth $29,767,000 after buying an additional 241,340 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of McGrath RentCorp by 50.7% in the third quarter. Wellington Management Group LLP now owns 621,008 shares of the financial services provider’s stock worth $62,250,000 after buying an additional 208,819 shares during the last quarter. Norges Bank acquired a new stake in McGrath RentCorp in the fourth quarter valued at $19,469,000. Finally, Clearbridge Investments LLC boosted its stake in McGrath RentCorp by 48.1% during the 4th quarter. Clearbridge Investments LLC now owns 304,419 shares of the financial services provider’s stock valued at $36,415,000 after acquiring an additional 98,851 shares during the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of McGrath RentCorp in a research note on Thursday, June 27th. They issued a “hold” rating on the stock.

McGrath RentCorp Stock Down 0.9 %

Shares of MGRC traded down $0.95 during mid-day trading on Tuesday, hitting $103.29. The stock had a trading volume of 1,742 shares, compared to its average volume of 240,823. The company has a market cap of $2.54 billion, a PE ratio of 20.32, a PEG ratio of 1.49 and a beta of 0.77. McGrath RentCorp has a fifty-two week low of $88.63 and a fifty-two week high of $130.86. The company’s fifty day simple moving average is $107.97 and its two-hundred day simple moving average is $115.58.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20. The firm had revenue of $187.80 million during the quarter, compared to the consensus estimate of $145.63 million. McGrath RentCorp had a net margin of 14.70% and a return on equity of 13.43%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. Equities analysts expect that McGrath RentCorp will post 5.5 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.84%. McGrath RentCorp’s dividend payout ratio is currently 37.04%.

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.