McGrath RentCorp (NASDAQ:MGRC) Shares Bought by Hamilton Point Investment Advisors LLC

Hamilton Point Investment Advisors LLC boosted its holdings in McGrath RentCorp (NASDAQ:MGRC) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,122 shares of the financial services provider’s stock after buying an additional 825 shares during the period. Hamilton Point Investment Advisors LLC’s holdings in McGrath RentCorp were worth $6,052,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Swedbank AB raised its position in McGrath RentCorp by 30.0% in the fourth quarter. Swedbank AB now owns 325,000 shares of the financial services provider’s stock valued at $36,342,000 after purchasing an additional 75,000 shares during the period. Hantz Financial Services Inc. grew its holdings in McGrath RentCorp by 12.9% during the 4th quarter. Hantz Financial Services Inc. now owns 21,939 shares of the financial services provider’s stock worth $2,453,000 after acquiring an additional 2,506 shares in the last quarter. KBC Group NV lifted its holdings in 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 buying an additional 286 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in McGrath RentCorp by 4.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider’s stock worth $933,000 after purchasing an additional 357 shares during the period. Finally, Empirical Asset Management LLC acquired a new stake in McGrath RentCorp during the fourth quarter worth about $207,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Trading Up 1.4 %

Shares of MGRC stock opened at $124.31 on Friday. The stock has a 50 day moving average of $117.30 and a two-hundred day moving average of $111.68. The company has a market capitalization of $3.05 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.47 and a beta of 0.77. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $130.86.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, January 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 20.77%.

Insiders Place Their Bets

In other news, CEO Joseph F. Hanna sold 15,840 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $119.88, for a total transaction of $1,898,899.20. Following the completion of the transaction, the chief executive officer now directly owns 155,409 shares of the company’s stock, valued at $18,630,430.92. This trade represents a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gilda Malek sold 919 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.78, for a total transaction of $111,915.82. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

MGRC has been the topic of several recent analyst reports. StockNews.com raised McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Oppenheimer raised their price objective on McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, CJS Securities started coverage on shares of McGrath RentCorp in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 price target for the company.

McGrath RentCorp Company 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.