Susquehanna International Group LLP bought a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,540 shares of the financial services provider’s stock, valued at approximately $780,000. Susquehanna International Group LLP owned about 0.09% of McGrath RentCorp as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MGRC. Wells Fargo & Company MN grew its holdings in shares of McGrath RentCorp by 10.0% during the 1st quarter. Wells Fargo & Company MN now owns 17,656 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 1,606 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of McGrath RentCorp by 1.3% during the 1st quarter. JPMorgan Chase & Co. now owns 40,743 shares of the financial services provider’s stock valued at $1,368,000 after purchasing an additional 509 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of McGrath RentCorp by 55.0% during the 1st quarter. Prudential Financial Inc. now owns 58,036 shares of the financial services provider’s stock valued at $1,949,000 after purchasing an additional 20,600 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of McGrath RentCorp by 28.5% during the 1st quarter. Victory Capital Management Inc. now owns 18,298 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 4,061 shares during the last quarter. Finally, American International Group Inc. grew its holdings in shares of McGrath RentCorp by 7.1% during the 1st quarter. American International Group Inc. now owns 14,461 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 964 shares during the last quarter. 82.54% of the stock is currently owned by institutional investors.

In other McGrath RentCorp news, VP John P. Skenesky sold 7,561 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $38.47, for a total transaction of $290,871.67. Following the transaction, the vice president now owns 6,387 shares in the company, valued at $245,707.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kay Dashner sold 2,500 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the vice president now owns 6,998 shares in the company, valued at approximately $279,920. The disclosure for this sale can be found here. Insiders have sold 18,265 shares of company stock worth $719,958 in the last quarter. Company insiders own 4.60% of the company’s stock.

MGRC has been the topic of several recent research reports. BidaskClub raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Saturday, August 5th.

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McGrath RentCorp (NASDAQ:MGRC) traded down 0.99% during trading on Friday, hitting $45.98. 10,313 shares of the company traded hands. McGrath RentCorp has a 52 week low of $29.26 and a 52 week high of $46.73. The stock has a market capitalization of $1.10 billion, a PE ratio of 26.29 and a beta of 0.97. The company’s 50 day moving average is $42.05 and its 200-day moving average is $36.73.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.10. McGrath RentCorp had a net margin of 9.74% and a return on equity of 10.62%. The business had revenue of $109.58 million for the quarter, compared to analysts’ expectations of $105.36 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Analysts predict that McGrath RentCorp will post $1.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Monday, October 16th. McGrath RentCorp’s dividend payout ratio (DPR) is 59.43%.

About McGrath RentCorp

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).

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

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