Y Intercept Hong Kong Ltd Buys 1,132 Shares of McGrath RentCorp (NASDAQ:MGRC)

Y Intercept Hong Kong Ltd raised its stake in shares of McGrath RentCorp (NASDAQ:MGRC) by 27.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,199 shares of the financial services provider’s stock after buying an additional 1,132 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in McGrath RentCorp were worth $579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. New Age Alpha Advisors LLC bought a new stake in McGrath RentCorp in the fourth quarter valued at approximately $33,000. Canada Pension Plan Investment Board acquired a new position in shares of McGrath RentCorp in the 4th quarter valued at $89,000. Focus Partners Wealth bought a new stake in shares of McGrath RentCorp in the fourth quarter worth about $136,000. State of Wyoming bought a new position in McGrath RentCorp in the fourth quarter valued at approximately $159,000. Finally, Xponance Inc. acquired a new stake in shares of McGrath RentCorp during the fourth quarter worth $200,000. 92.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

McGrath RentCorp Stock Performance

NASDAQ MGRC opened at $124.50 on Monday. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The stock’s 50 day moving average price is $115.99 and its two-hundred day moving average price is $115.00. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.30 and a beta of 0.66.

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

McGrath RentCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Thursday, July 17th. This represents a $1.94 annualized dividend and a yield of 1.56%. McGrath RentCorp’s payout ratio is currently 20.10%.

Insider Buying and Selling at McGrath RentCorp

In other news, VP John P. Skenesky sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $111.32, for a total value of $278,300.00. Following the completion of the transaction, the vice president owned 8,692 shares in the company, valued at $967,593.44. This trade represents a 22.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Trease Kristina Van sold 2,221 shares of McGrath RentCorp stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $114.21, for a total value of $253,660.41. Following the completion of the sale, the insider directly owned 6,694 shares in the company, valued at approximately $764,521.74. This represents a 24.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,509 shares of company stock valued at $1,507,821. 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.