FourThought Financial Partners LLC Trims Holdings in McGrath RentCorp (NASDAQ:MGRC)

FourThought Financial Partners LLC trimmed its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 9.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,374 shares of the financial services provider’s stock after selling 258 shares during the quarter. FourThought Financial Partners LLC’s holdings in McGrath RentCorp were worth $284,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MGRC. Arizona State Retirement System raised its stake in McGrath RentCorp by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 6,969 shares of the financial services provider’s stock worth $699,000 after acquiring an additional 118 shares during the period. Diversified Trust Co raised its stake in McGrath RentCorp by 4.2% during the 3rd quarter. Diversified Trust Co now owns 3,628 shares of the financial services provider’s stock worth $364,000 after acquiring an additional 147 shares during the period. Adirondack Trust Co. bought a new stake in McGrath RentCorp during the 3rd quarter worth approximately $50,000. Hamilton Point Investment Advisors LLC raised its stake in McGrath RentCorp by 1.2% during the 4th quarter. Hamilton Point Investment Advisors LLC now owns 54,485 shares of the financial services provider’s stock worth $6,518,000 after acquiring an additional 650 shares during the period. Finally, Swiss National Bank raised its stake in McGrath RentCorp by 1.3% during the 3rd quarter. Swiss National Bank now owns 53,800 shares of the financial services provider’s stock worth $5,393,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of McGrath RentCorp in a report on Monday. They issued a “hold” rating for the company.

McGrath RentCorp Price Performance

NASDAQ MGRC remained flat at $109.00 on Monday. 34,894 shares of the company’s stock traded hands, compared to its average volume of 299,220. The business has a 50-day moving average price of $117.85 and a two-hundred day moving average price of $113.67. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 1.66 and a beta of 0.82. McGrath RentCorp has a 52 week low of $87.72 and a 52 week high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.73 by $0.20. The company had revenue of $187.80 million during the quarter, compared to analyst estimates of $145.63 million. McGrath RentCorp had a net margin of 14.70% and a return on equity of 13.43%. McGrath RentCorp’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. On average, research analysts forecast that McGrath RentCorp will post 5.05 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 1.74%. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, April 15th. McGrath RentCorp’s dividend payout ratio (DPR) is 37.04%.

McGrath RentCorp Company 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.