McGrath RentCorp (NASDAQ:MGRC) Shares Sold by XTX Topco Ltd

XTX Topco Ltd decreased its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 64.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,073 shares of the financial services provider’s stock after selling 3,705 shares during the quarter. XTX Topco Ltd’s holdings in McGrath RentCorp were worth $231,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in McGrath RentCorp by 11.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 917,631 shares of the financial services provider’s stock valued at $102,610,000 after acquiring an additional 97,290 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of McGrath RentCorp by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 788,760 shares of the financial services provider’s stock valued at $88,198,000 after purchasing an additional 50,674 shares in the last quarter. Eminence Capital LP purchased a new stake in shares of McGrath RentCorp during the 4th quarter worth about $83,898,000. Victory Capital Management Inc. grew its holdings in shares of McGrath RentCorp by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 648,772 shares of the financial services provider’s stock worth $72,273,000 after purchasing an additional 7,063 shares during the period. Finally, Snyder Capital Management L P increased its position in McGrath RentCorp by 25.3% during the 4th quarter. Snyder Capital Management L P now owns 400,250 shares of the financial services provider’s stock worth $44,756,000 after purchasing an additional 80,908 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

McGrath RentCorp Price Performance

Shares of MGRC opened at $121.25 on Wednesday. The stock’s 50-day moving average is $117.74 and its two-hundred day moving average is $115.29. The stock has a market cap of $2.98 billion, a PE ratio of 11.81, a P/E/G ratio of 1.23 and a beta of 0.66. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.16. McGrath RentCorp had a return on equity of 13.52% and a net margin of 26.81%. The company had revenue of $235.62 million for the quarter, compared to analysts’ expectations of $220.71 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 17th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, July 17th. McGrath RentCorp’s payout ratio is currently 18.89%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research report on Friday, April 25th.

Insider Transactions at McGrath RentCorp

In related news, CEO Joseph F. Hanna sold 14,577 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $126.55, for a total value of $1,844,719.35. Following the completion of the sale, the chief executive officer directly owned 153,637 shares of the company’s stock, valued at $19,442,762.35. The trade was a 8.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kimberly Ann Box sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $118.50, for a total value of $177,750.00. Following the completion of the sale, the director directly owned 7,000 shares of the company’s stock, valued at approximately $829,500. This represents a 17.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,519 shares of company stock valued at $2,645,800 in the last three months. Corporate insiders own 1.40% of the company’s stock.

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.