Semanteon Capital Management LP Takes $537,000 Position in McGrath RentCorp (NASDAQ:MGRC)

Semanteon Capital Management LP purchased a new position in shares of McGrath RentCorp (NASDAQ:MGRC) in the third quarter, HoldingsChannel reports. The institutional investor purchased 5,100 shares of the financial services provider’s stock, valued at approximately $537,000.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of McGrath RentCorp in the first quarter worth about $171,000. TFG Advisers LLC purchased a new position in McGrath RentCorp in the 1st quarter worth approximately $203,000. J.W. Cole Advisors Inc. purchased a new stake in shares of McGrath RentCorp during the first quarter valued at approximately $210,000. Meeder Asset Management Inc. acquired a new position in shares of McGrath RentCorp during the first quarter worth $213,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of 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 purchasing an additional 104 shares during the period. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MGRC has been the topic of a number of recent analyst reports. Oppenheimer boosted their price objective on shares of McGrath RentCorp from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday. StockNews.com raised McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd.

McGrath RentCorp Trading Up 0.9 %

McGrath RentCorp stock opened at $115.15 on Tuesday. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $130.86. The stock has a market cap of $2.83 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 1.82 and a beta of 0.75. The stock has a 50 day moving average of $106.03 and a 200-day moving average of $107.22.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.48. The company had revenue of $266.76 million during the quarter, compared to analyst estimates of $227.76 million. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the business earned $1.65 EPS. As a group, equities analysts predict that McGrath RentCorp will post 4.48 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, October 17th. McGrath RentCorp’s dividend payout ratio is currently 37.04%.

About McGrath RentCorp

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.