One Wealth Advisors LLC Has $1.89 Million Stock Position in McGrath RentCorp (NASDAQ:MGRC)

One Wealth Advisors LLC boosted its stake in shares of McGrath RentCorp (NASDAQ:MGRC) by 40.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,857 shares of the financial services provider’s stock after buying an additional 4,824 shares during the period. One Wealth Advisors LLC’s holdings in McGrath RentCorp were worth $1,885,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MGRC. Wealth Enhancement Advisory Services LLC grew its stake in McGrath RentCorp by 5.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 104 shares in the last quarter. Covestor Ltd grew its stake in McGrath RentCorp by 15.8% in the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 161 shares in the last quarter. Sei Investments Co. increased its position in McGrath RentCorp by 4.1% in the 2nd quarter. Sei Investments Co. now owns 4,656 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 183 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of McGrath RentCorp by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,397 shares of the financial services provider’s stock worth $1,108,000 after purchasing an additional 185 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of McGrath RentCorp by 32.5% during the 3rd quarter. KBC Group NV now owns 767 shares of the financial services provider’s stock valued at $81,000 after buying an additional 188 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Buying and Selling

In related news, VP Gilda Malek sold 919 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.78, for a total transaction of $111,915.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph F. Hanna sold 15,840 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 155,409 shares of the company’s stock, valued at approximately $18,630,430.92. This trade represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

McGrath RentCorp Stock Performance

MGRC opened at $122.67 on Monday. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $130.86. The firm has a market cap of $3.01 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.77. The business has a 50 day moving average price of $117.44 and a 200 day moving average price of $111.84.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $0.475 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.55%. McGrath RentCorp’s payout ratio is presently 20.77%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MGRC. Oppenheimer raised their price objective on shares of McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. StockNews.com raised shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, CJS Securities assumed coverage on shares of McGrath RentCorp in a report on Wednesday, December 11th. They issued an “outperform” rating and a $152.00 price objective for the company.

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.