McGrath RentCorp (NASDAQ:MGRC) Shares Sold by US Bancorp DE

US Bancorp DE reduced its position in shares of McGrath RentCorp (NASDAQ:MGRC – Get Rating) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,392 shares of the financial services provider’s stock after selling 1,001 shares during the period. US Bancorp DE’s holdings in McGrath RentCorp were worth $704,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MGRC. Millennium Management LLC grew its holdings in McGrath RentCorp by 60.8% during the second quarter. Millennium Management LLC now owns 235,825 shares of the financial services provider’s stock worth $17,923,000 after acquiring an additional 89,174 shares during the period. Raymond James & Associates acquired a new position in McGrath RentCorp during the first quarter worth about $4,262,000. Driehaus Capital Management LLC boosted its position in shares of McGrath RentCorp by 71.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 93,483 shares of the financial services provider’s stock valued at $7,105,000 after purchasing an additional 38,838 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of McGrath RentCorp by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 521,867 shares of the financial services provider’s stock valued at $44,349,000 after purchasing an additional 37,471 shares during the period. Finally, River Road Asset Management LLC boosted its position in shares of McGrath RentCorp by 4.0% in the 2nd quarter. River Road Asset Management LLC now owns 703,982 shares of the financial services provider’s stock valued at $53,503,000 after purchasing an additional 27,219 shares during the period. 82.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MGRC has been the subject of a number of recent analyst reports. StockNews.com lowered McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Sidoti lowered McGrath RentCorp from a “buy” rating to a “neutral” rating and set a $106.00 price target for the company. in a research report on Wednesday, November 16th.

McGrath RentCorp Trading Down 2.5 %

Shares of NASDAQ MGRC opened at $96.99 on Friday. McGrath RentCorp has a one year low of $71.17 and a one year high of $101.78. The firm has a market capitalization of $2.36 billion, a PE ratio of 22.82, a PEG ratio of 2.16 and a beta of 0.78. The business has a 50-day moving average price of $98.03 and a two-hundred day moving average price of $89.60.

McGrath RentCorp (NASDAQ:MGRC – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.19. McGrath RentCorp had a return on equity of 13.88% and a net margin of 14.87%. The firm had revenue of $200.54 million during the quarter, compared to analyst estimates of $189.90 million. Research analysts anticipate that McGrath RentCorp will post 4.42 EPS for the current year.

McGrath RentCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 17th will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, January 13th. This represents a $1.82 dividend on an annualized basis and a yield of 1.88%. McGrath RentCorp’s payout ratio is presently 42.82%.

McGrath RentCorp Company Profile

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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.