Healthcare of Ontario Pension Plan Trust Fund bought a new position in McGrath RentCorp (NASDAQ:MGRC – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 26,000 shares of the financial services provider’s stock, valued at approximately $3,208,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in McGrath RentCorp by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,679,998 shares of the financial services provider’s stock worth $268,643,000 after acquiring an additional 22,273 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of McGrath RentCorp by 244.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,333 shares of the financial services provider’s stock worth $5,183,000 after purchasing an additional 30,737 shares during the last quarter. Wolf Group Capital Advisors lifted its holdings in shares of McGrath RentCorp by 6.6% during the fourth quarter. Wolf Group Capital Advisors now owns 16,501 shares of the financial services provider’s stock valued at $1,974,000 after purchasing an additional 1,023 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of McGrath RentCorp during the fourth quarter valued at $25,329,000. Finally, Mackenzie Financial Corp bought a new stake in McGrath RentCorp in the 4th quarter worth about $395,000. Institutional investors own 92.05% of the company’s stock.
McGrath RentCorp Price Performance
NASDAQ MGRC opened at $115.62 on Friday. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.56 and a beta of 0.77. McGrath RentCorp has a 1-year low of $89.91 and a 1-year high of $130.86. The business’s fifty day moving average price is $108.10 and its 200-day moving average price is $114.61.
McGrath RentCorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Wednesday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 37.04%.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on shares of McGrath RentCorp in a research note on Sunday, July 21st. They set a “hold” rating on the stock.
Check Out Our Latest Research Report on MGRC
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.
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