FourThought Financial Partners LLC Sells 258 Shares of McGrath RentCorp (NASDAQ:MGRC)

FourThought Financial Partners LLC lessened its stake in McGrath RentCorp (NASDAQ:MGRC) by 9.8% in the fourth quarter, Holdings Channel reports. The firm 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.

Several other institutional investors and hedge funds have also bought and sold shares of MGRC. SG Americas Securities LLC acquired a new stake in McGrath RentCorp in the third quarter valued at approximately $732,000. Bank of New York Mellon Corp boosted its position in McGrath RentCorp by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 171,517 shares of the financial services provider’s stock valued at $17,193,000 after buying an additional 1,351 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in McGrath RentCorp by 30.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the financial services provider’s stock valued at $584,000 after buying an additional 1,349 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of McGrath RentCorp by 14.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,126 shares of the financial services provider’s stock worth $1,216,000 after purchasing an additional 1,574 shares during the period. Finally, Inspire Investing LLC acquired a new position in shares of McGrath RentCorp during the third quarter worth $307,000. Institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Stock Performance

MGRC stock remained flat at $109.00 during midday trading on Monday. 34,894 shares of the company traded hands, compared to its average volume of 299,220. The firm has a market cap 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 1-year low of $87.72 and a 1-year high of $130.86. The company’s fifty day moving average price is $117.85 and its two-hundred day moving average price is $113.67.

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

McGrath RentCorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were paid a $0.475 dividend. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 1.74%. The ex-dividend date was Monday, April 15th. McGrath RentCorp’s payout ratio is 37.04%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of McGrath RentCorp in a report on Monday. They set a “hold” rating on the 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.