Hantz Financial Services Inc. Boosts Stock Position in McGrath RentCorp (NASDAQ:MGRC)

Hantz Financial Services Inc. raised its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,939 shares of the financial services provider’s stock after buying an additional 2,506 shares during the period. Hantz Financial Services Inc.’s holdings in McGrath RentCorp were worth $2,453,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MGRC. Wealth Enhancement Advisory Services LLC boosted its stake in McGrath RentCorp by 5.4% in the third 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 lifted its holdings in shares of McGrath RentCorp by 15.8% during the 3rd 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 during the last quarter. Sei Investments Co. boosted its position in shares of 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 in the last quarter. The Manufacturers Life Insurance Company grew its stake in 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 buying an additional 185 shares during the last quarter. Finally, KBC Group NV increased its position in 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 in the last quarter. 92.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other McGrath RentCorp news, CEO Joseph F. Hanna sold 15,840 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $119.88, for a total value of $1,898,899.20. Following 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 represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gilda Malek sold 919 shares of McGrath RentCorp stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.78, for a total value of $111,915.82. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

McGrath RentCorp Stock Performance

McGrath RentCorp stock opened at $124.31 on Friday. The business’s 50-day simple moving average is $117.30 and its two-hundred day simple moving average is $111.68. The company has a market cap of $3.05 billion, a PE ratio of 13.59, a PEG ratio of 1.48 and a beta of 0.77. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $130.86.

McGrath RentCorp Announces Dividend

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

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.