Cwm LLC Sells 202 Shares of McGrath RentCorp (NASDAQ:MGRC)

Cwm LLC lowered its holdings in McGrath RentCorp (NASDAQ:MGRC) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,009 shares of the financial services provider’s stock after selling 202 shares during the quarter. Cwm LLC’s holdings in McGrath RentCorp were worth $948,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MGRC. Swedbank AB increased its position in McGrath RentCorp by 66.7% during the 2nd quarter. Swedbank AB now owns 200,000 shares of the financial services provider’s stock valued at $21,310,000 after purchasing an additional 80,000 shares during the period. Quantbot Technologies LP bought a new stake in shares of McGrath RentCorp during the 1st quarter valued at about $1,008,000. Vaughan Nelson Investment Management L.P. increased its position in shares of McGrath RentCorp by 26.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 486,190 shares of the financial services provider’s stock valued at $51,803,000 after buying an additional 100,210 shares during the period. Vanguard Group Inc. raised its stake in McGrath RentCorp by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 2,691,278 shares of the financial services provider’s stock worth $321,931,000 after buying an additional 11,280 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in McGrath RentCorp by 297.8% during the 1st quarter. Gabelli Funds LLC now owns 59,670 shares of the financial services provider’s stock valued at $7,361,000 after acquiring an additional 44,670 shares in the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

McGrath RentCorp Stock Performance

Shares of NASDAQ MGRC opened at $107.81 on Friday. The company has a 50 day simple moving average of $105.37 and a two-hundred day simple moving average of $107.95. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $130.86. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 1.85 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $210.23 million. During the same period last year, the business earned $1.14 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts forecast that McGrath RentCorp will post 4.48 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, October 17th. McGrath RentCorp’s dividend payout ratio (DPR) is 37.04%.

Wall Street Analyst Weigh In

MGRC has been the subject of several research reports. Oppenheimer started coverage on McGrath RentCorp in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $120.00 target price for the company. StockNews.com lowered McGrath RentCorp from a “hold” rating to a “sell” rating in a research report on Friday, September 27th.

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.