1 week Ago By Defense World Staff
Norges Bank bought a new stake in McGrath RentCorp (NASDAQ:MGRC – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 86,961 shares of the financial services provider’s stock, valued at approximately $9,724,000. Norges Bank owned approximately 0.
35% of McGrath RentCorp as of its most recent filing with the Securities and Exchange Commission. Other large investors have also recently bought and sold shares of the company. Atala Financial Inc acquired a new stake in shares of McGrath RentCorp during the fourth quarter valued at $31,000.
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 purchasing an additional 286 shares during the last quarter.
Xponance Inc. purchased a new stake in shares of McGrath RentCorp during the fourth quarter worth about $200,000. Empirical Asset Management LLC purchased a new stake in shares of McGrath RentCorp during the fourth quarter worth about $207,000.
Finally, Cibc World Markets Corp acquired a new position in shares of McGrath RentCorp in the fourth quarter valued at approximately $255,000. Institutional investors and hedge funds own 92.05% of the company’s stock.
Insider Transactions at McGrath RentCorpIn other McGrath RentCorp news, Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $124.69, for a total transaction of $124,690.
00. Following the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $935,175. The trade was a 11.
76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.
60% of the company’s stock. McGrath RentCorp Stock PerformanceMcGrath RentCorp stock opened at $101.45 on Wednesday.
McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $129.93.
The firm has a 50 day moving average price of $116.98 and a 200 day moving average price of $115.52.
The company has a market cap of $2.49 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.
35 and a beta of 0.62. McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $243.75 million during the quarter, compared to analysts’ expectations of $246.
93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.
68%. Sell-side analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.
McGrath RentCorp Increases DividendThe company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a $0.485 dividend.
This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.48. This represents a $1.
94 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, April 16th.
McGrath RentCorp’s payout ratio is currently 20.57%. Analyst Upgrades and DowngradesSeveral analysts have commented on the stock.
CJS Securities started coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 target price for the company.
StockNews.com downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.View Our Latest Stock Analysis on MGRCMcGrath RentCorp Profile (Free Report)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.Featured ArticlesFive stocks we like better than McGrath RentCorpUsing the MarketBeat Dividend Yield CalculatorTariff-Proof Stocks: 3 Big Bargains With Huge Upside PotentialStock Sentiment Analysis: How it WorksQualcomm Breaks Down But RSI Signals It’s Severely OversoldStock Market Sectors: What Are They and How Many Are There? Tesla’s #1 Bull Cuts Target But Says It’s Still a Buy.
