McGrath RentCorp (NASDAQ:MGRC) Shares Bought by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL grew its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 20.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 27,675 shares of the financial services provider’s stock after purchasing an additional 4,675 shares during the quarter. Gamco Investors INC. ET AL owned 0.11% of McGrath RentCorp worth $3,414,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of McGrath RentCorp in the 1st quarter worth $66,000. SG Americas Securities LLC acquired a new position in McGrath RentCorp during the first quarter valued at $171,000. TFG Advisers LLC acquired a new position in McGrath RentCorp during the first quarter valued at $203,000. J.W. Cole Advisors Inc. acquired a new position in McGrath RentCorp during the first quarter valued at $210,000. Finally, Meeder Asset Management Inc. acquired a new position in McGrath RentCorp during the first quarter valued at $213,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on McGrath RentCorp in a research note on Sunday, July 21st. They issued a “hold” rating on the stock.

McGrath RentCorp Stock Performance

Shares of MGRC traded down $4.60 during trading hours on Friday, hitting $111.02. 375,179 shares of the company were exchanged, compared to its average volume of 172,359. The company has a market cap of $2.73 billion, a PE ratio of 21.64, a PEG ratio of 1.62 and a beta of 0.77. The firm’s 50 day moving average is $108.09 and its 200-day moving average is $114.60. McGrath RentCorp has a 52 week low of $89.91 and a 52 week high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.20. The company had revenue of $187.80 million during the quarter, compared to the consensus estimate of $145.63 million. McGrath RentCorp had a return on equity of 13.42% and a net margin of 13.39%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 EPS. As a group, equities analysts forecast that McGrath RentCorp will post 5.5 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a dividend of $0.475 per share. The ex-dividend date is Wednesday, July 17th. This represents a $1.90 annualized dividend and a dividend yield of 1.71%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 37.04%.

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.