SG Americas Securities LLC Grows Stake in McGrath RentCorp (MGRC)

SG Americas Securities LLC lifted its stake in shares of McGrath RentCorp (NASDAQ:MGRC) by 885.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,828 shares of the financial services provider’s stock after acquiring an additional 21,410 shares during the quarter. SG Americas Securities LLC’s holdings in McGrath RentCorp were worth $1,298,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of McGrath RentCorp in the second quarter valued at $278,000. First Trust Advisors LP raised its stake in McGrath RentCorp by 77.1% during the 2nd quarter. First Trust Advisors LP now owns 65,520 shares of the financial services provider’s stock valued at $4,145,000 after purchasing an additional 28,525 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in McGrath RentCorp during the 2nd quarter valued at $1,839,000. Virginia Retirement Systems ET AL acquired a new stake in McGrath RentCorp during the 2nd quarter valued at $791,000. Finally, Sei Investments Co. raised its stake in McGrath RentCorp by 57,291.2% during the 2nd quarter. Sei Investments Co. now owns 19,513 shares of the financial services provider’s stock valued at $1,235,000 after purchasing an additional 19,479 shares during the period. Institutional investors own 83.06% of the company’s stock.

Shares of NASDAQ:MGRC opened at $52.13 on Friday. McGrath RentCorp has a 12-month low of $42.98 and a 12-month high of $68.79. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.78 and a beta of 0.72.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Tuesday, October 30th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. McGrath RentCorp had a net margin of 35.47% and a return on equity of 12.61%. The company had revenue of $143.10 million for the quarter, compared to the consensus estimate of $139.87 million. During the same period in the previous year, the business earned $0.69 EPS. The company’s revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that McGrath RentCorp will post 2.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Thursday, January 17th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, January 16th. McGrath RentCorp’s dividend payout ratio (DPR) is currently 63.55%.

In other news, VP John Lieffrig sold 1,284 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $54.43, for a total transaction of $69,888.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Keith E. Pratt sold 1,841 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $53.00, for a total transaction of $97,573.00. Following the transaction, the vice president now owns 25,382 shares in the company, valued at $1,345,246. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research note on Friday, November 2nd. BidaskClub raised shares of McGrath RentCorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Berenberg Bank assumed coverage on shares of McGrath RentCorp in a research note on Wednesday, September 19th. They set a “buy” rating and a $70.00 target price on the stock. Finally, ValuEngine downgraded shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th.

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McGrath RentCorp Profile

McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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

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