Swiss National Bank Has $5.40 Million Stock Position in McGrath RentCorp (NASDAQ:MGRC)

Swiss National Bank boosted its stake in shares of McGrath RentCorp (NASDAQ:MGRC) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,300 shares of the financial services provider’s stock after purchasing an additional 300 shares during the quarter. Swiss National Bank’s holdings in McGrath RentCorp were worth $5,401,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. River Road Asset Management LLC lifted its position in shares of McGrath RentCorp by 52.1% in the 4th quarter. River Road Asset Management LLC now owns 1,896,943 shares of the financial services provider’s stock worth $212,116,000 after acquiring an additional 649,567 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in McGrath RentCorp by 29.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,880 shares of the financial services provider’s stock worth $881,000 after purchasing an additional 1,795 shares during the period. AlphaQuest LLC boosted its stake in McGrath RentCorp by 140.3% during the fourth quarter. AlphaQuest LLC now owns 3,700 shares of the financial services provider’s stock worth $414,000 after buying an additional 2,160 shares in the last quarter. Raymond James Financial Inc. bought a new stake in McGrath RentCorp in the 4th quarter valued at $13,179,000. Finally, M&T Bank Corp raised its stake in shares of McGrath RentCorp by 28.4% in the 4th quarter. M&T Bank Corp now owns 23,181 shares of the financial services provider’s stock valued at $2,592,000 after buying an additional 5,123 shares in the last quarter. 92.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MGRC. CJS Securities initiated coverage on shares of McGrath RentCorp in a research report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 target price on the stock. StockNews.com downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

McGrath RentCorp Stock Up 2.6 %

Shares of MGRC stock opened at $116.35 on Tuesday. The company has a market capitalization of $2.86 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.35 and a beta of 0.75. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $129.93. The firm has a 50-day moving average price of $119.55 and a 200 day moving average price of $114.94.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. The business had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. As a group, research analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.67%. McGrath RentCorp’s dividend payout ratio (DPR) is 20.57%.

Insider Activity at McGrath RentCorp

In other news, Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.00. Following the sale, the director now directly owns 7,500 shares of the company’s stock, valued at $935,175. This represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

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.