Trexquant Investment LP Makes New Investment in McGrath RentCorp (NASDAQ:MGRC)

Trexquant Investment LP purchased a new position in shares of McGrath RentCorp (NASDAQ:MGRC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 9,556 shares of the financial services provider’s stock, valued at approximately $1,069,000.

Other institutional investors have also recently made changes to their positions in the company. Atala Financial Inc acquired a new position in shares of McGrath RentCorp during the 4th quarter worth approximately $31,000. New Age Alpha Advisors LLC bought a new position in shares of McGrath RentCorp during the 4th quarter worth approximately $33,000. KBC Group NV boosted its stake in shares of McGrath RentCorp by 37.3% during the 4th quarter. KBC Group NV now owns 1,053 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 286 shares during the period. Xponance Inc. bought a new position in shares of McGrath RentCorp during the 4th quarter worth approximately $200,000. Finally, Empirical Asset Management LLC bought a new position in shares of McGrath RentCorp during the 4th quarter worth approximately $207,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

McGrath RentCorp Trading Down 4.1 %

Shares of NASDAQ MGRC opened at $102.79 on Friday. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The stock has a 50 day moving average of $115.95 and a 200-day moving average of $115.46. The company has a market capitalization of $2.52 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.35 and a beta of 0.62.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $243.75 million during the quarter, compared to the consensus estimate of $246.93 million. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. Analysts predict that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 1.89%. McGrath RentCorp’s payout ratio is 20.57%.

Insider Activity at McGrath RentCorp

In related news, Director Kimberly Ann Box sold 1,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total value of $124,690.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at $935,175. The trade was a 11.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

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.