McGrath RentCorp (MGRC) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its stake in McGrath RentCorp (NASDAQ:MGRC) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,166 shares of the financial services provider’s stock after buying an additional 56 shares during the period. Public Employees Retirement System of Ohio’s holdings in McGrath RentCorp were worth $387,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of McGrath RentCorp by 3.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 162,836 shares of the financial services provider’s stock valued at $5,640,000 after buying an additional 4,754 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of McGrath RentCorp by 16.4% in the 1st quarter. AQR Capital Management LLC now owns 99,768 shares of the financial services provider’s stock valued at $3,349,000 after buying an additional 14,031 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of McGrath RentCorp by 9.7% in the 1st quarter. Bank of America Corp DE now owns 9,417 shares of the financial services provider’s stock valued at $316,000 after buying an additional 830 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of McGrath RentCorp by 1.3% in the 1st quarter. JPMorgan Chase & Co. now owns 40,743 shares of the financial services provider’s stock valued at $1,368,000 after buying an additional 509 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of McGrath RentCorp by 5.5% in the 2nd quarter. Comerica Bank now owns 73,046 shares of the financial services provider’s stock valued at $2,521,000 after buying an additional 3,803 shares in the last quarter. Institutional investors and hedge funds own 81.97% of the company’s stock.

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Several brokerages have recently issued reports on MGRC. BidaskClub upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Saturday, August 5th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st.

In other McGrath RentCorp news, VP Trease Kristina Van sold 1,043 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.82, for a total transaction of $41,532.26. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $755,504.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis P. Stradford sold 3,900 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total transaction of $192,699.00. Following the sale, the director now directly owns 5,000 shares in the company, valued at $247,050. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,389 shares of company stock worth $677,453. 4.60% of the stock is owned by corporate insiders.

Shares of McGrath RentCorp (NASDAQ:MGRC) opened at $46.35 on Tuesday. McGrath RentCorp has a 12-month low of $32.09 and a 12-month high of $49.66. The company has a market cap of $1,101.39, a price-to-earnings ratio of 24.12, a P/E/G ratio of 2.25 and a beta of 0.99.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.57 by $0.12. The firm had revenue of $135.39 million during the quarter, compared to the consensus estimate of $124.90 million. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. McGrath RentCorp’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. analysts expect that McGrath RentCorp will post 2.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Tuesday, October 17th were paid a $0.26 dividend. The ex-dividend date was Monday, October 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.24%. McGrath RentCorp’s payout ratio is 54.74%.

McGrath RentCorp Company Profile

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).

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

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