Creative Planning Has $501,000 Holdings in McGrath RentCorp (NASDAQ:MGRC)

Creative Planning lessened its stake in McGrath RentCorp (NASDAQ:MGRC) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,762 shares of the financial services provider’s stock after selling 533 shares during the quarter. Creative Planning’s holdings in McGrath RentCorp were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGRC. SG Americas Securities LLC acquired a new stake in McGrath RentCorp in the 1st quarter valued at about $171,000. TFG Advisers LLC acquired a new stake in McGrath RentCorp in the 1st quarter valued at about $203,000. Meeder Asset Management Inc. acquired a new stake in McGrath RentCorp in the 1st quarter valued at about $213,000. Aristides Capital LLC acquired a new stake in McGrath RentCorp in the 1st quarter valued at about $239,000. Finally, Chicago Capital Management LLC acquired a new stake in McGrath RentCorp in the 1st quarter valued at about $336,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

McGrath RentCorp Trading Up 1.4 %

Shares of NASDAQ MGRC opened at $117.17 on Wednesday. The firm has a market capitalization of $2.88 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.61 and a beta of 0.74. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $130.86. The firm’s 50-day moving average is $107.07 and its 200-day moving average is $107.38.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (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 company had revenue of $266.76 million for the quarter, compared to analyst estimates of $227.76 million. During the same quarter last year, the firm earned $1.65 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that McGrath RentCorp will post 5.5 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.62%. The ex-dividend date was Thursday, October 17th. McGrath RentCorp’s payout ratio is 20.77%.

Analysts Set New Price Targets

MGRC has been the topic of several recent research reports. Oppenheimer raised their target price on shares of McGrath RentCorp from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd.

Insider Buying and Selling

In related news, VP David M. Whitney sold 5,176 shares of McGrath RentCorp stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $117.00, for a total transaction of $605,592.00. Following the transaction, the vice president now owns 205 shares of the company’s stock, valued at $23,985. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $114.62, for a total transaction of $114,620.00. Following the transaction, the director now owns 7,500 shares of the company’s stock, valued at $859,650. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David M. Whitney sold 5,176 shares of McGrath RentCorp stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $117.00, for a total transaction of $605,592.00. Following the transaction, the vice president now directly owns 205 shares in the company, valued at $23,985. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,176 shares of company stock valued at $3,594,512 in the last 90 days. 1.60% of the stock is owned by insiders.

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.