Semanteon Capital Management LP Acquires New Holdings in McGrath RentCorp (NASDAQ:MGRC)

Semanteon Capital Management LP bought a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,100 shares of the financial services provider’s stock, valued at approximately $537,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of McGrath RentCorp during the 1st quarter worth approximately $171,000. TFG Advisers LLC acquired a new position in shares of McGrath RentCorp in the first quarter worth $203,000. J.W. Cole Advisors Inc. purchased a new stake in shares of McGrath RentCorp in the first quarter valued at $210,000. Meeder Asset Management Inc. acquired a new stake in shares of McGrath RentCorp during the first quarter valued at $213,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in McGrath RentCorp by 5.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

McGrath RentCorp Stock Up 0.9 %

Shares of NASDAQ:MGRC opened at $115.15 on Tuesday. The company has a market cap of $2.83 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.82 and a beta of 0.75. The business has a fifty day simple moving average of $106.03 and a 200-day simple moving average of $107.22. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.48. McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. The firm had revenue of $266.76 million for the quarter, compared to analyst estimates of $227.76 million. During the same period last year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Sell-side analysts expect that McGrath RentCorp will post 4.48 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 Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, October 17th. McGrath RentCorp’s dividend payout ratio is currently 37.04%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MGRC. Oppenheimer upped their target price on shares of McGrath RentCorp from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd.

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.