8,438 Shares in McGrath RentCorp (NASDAQ:MGRC) Acquired by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,438 shares of the financial services provider’s stock, valued at approximately $888,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. TFG Advisers LLC bought a new stake in shares of McGrath RentCorp during the 1st quarter worth about $203,000. J.W. Cole Advisors Inc. bought a new stake in shares of McGrath RentCorp during the first quarter worth approximately $210,000. Meeder Asset Management Inc. acquired a new position in shares of McGrath RentCorp in the first quarter valued at approximately $213,000. Aristides Capital LLC bought a new position in shares of McGrath RentCorp during the first quarter worth approximately $239,000. Finally, Chicago Capital Management LLC acquired a new stake in McGrath RentCorp during the 1st quarter worth approximately $336,000. 92.05% of the stock is owned by institutional investors.

McGrath RentCorp Trading Down 0.3 %

NASDAQ MGRC opened at $107.34 on Friday. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 1.85 and a beta of 0.75. The company has a 50 day moving average of $104.57 and a 200-day moving average of $108.45. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.41). McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The company had revenue of $212.60 million during the quarter, compared to analyst estimates of $210.23 million. During the same period in the prior year, the firm earned $1.14 earnings per share. McGrath RentCorp’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that McGrath RentCorp will post 4.48 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.77%. McGrath RentCorp’s payout ratio is 40.25%.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com lowered McGrath RentCorp from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Oppenheimer initiated coverage on shares of McGrath RentCorp in a research report on Wednesday, September 25th. They set an “outperform” rating and a $120.00 price target on the stock.

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.