Martingale Asset Management L P Buys New Holdings in McGrath RentCorp (NASDAQ:MGRC)

Martingale Asset Management L P bought a new stake in McGrath RentCorp (NASDAQ:MGRCGet Rating) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,802 shares of the financial services provider’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MGRC. DB Wealth Management Group LLC bought a new stake in McGrath RentCorp in the 1st quarter valued at about $26,000. Pinebridge Investments L.P. increased its position in McGrath RentCorp by 325.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 425 shares of the financial services provider’s stock valued at $32,000 after buying an additional 325 shares in the last quarter. Lazard Asset Management LLC bought a new stake in McGrath RentCorp in the 1st quarter valued at about $51,000. SG Americas Securities LLC acquired a new position in McGrath RentCorp during the 2nd quarter valued at about $108,000. Finally, Sageworth Trust Co acquired a new position in McGrath RentCorp during the 2nd quarter valued at about $132,000. 82.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Sidoti downgraded McGrath RentCorp from a “buy” rating to a “neutral” rating and set a $106.00 price target for the company. in a research note on Wednesday, November 16th.

McGrath RentCorp Stock Down 1.4 %

Shares of NASDAQ MGRC opened at $96.63 on Thursday. McGrath RentCorp has a twelve month low of $71.17 and a twelve month high of $100.30. The stock’s 50 day moving average price is $89.45 and its 200-day moving average price is $84.10. The company has a market capitalization of $2.36 billion, a PE ratio of 22.74, a PEG ratio of 2.19 and a beta of 0.80.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Monday, October 17th were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, October 14th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.88%. McGrath RentCorp’s payout ratio is presently 42.82%.

McGrath RentCorp Profile

(Get Rating)

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, electronic test equipment and related accessories, and liquid and solid containment tanks and boxes. The company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

Featured Stories

Want to see what other hedge funds are holding MGRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McGrath RentCorp (NASDAQ:MGRCGet Rating).

Institutional Ownership by Quarter for McGrath RentCorp (NASDAQ:MGRC)

Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.