Norman Fields Gottscho Capital Management adds McGrath RentCorp (MGRC) to its portfolio

McGrath RentCorp (MGRC) : Norman Fields Gottscho Capital Management added new position in McGrath RentCorp during the most recent quarter end. The investment management firm now holds 7,150 shares of McGrath RentCorp which is valued at $227,227 , the company said in a statement filed on Oct 4, 2016 with the SEC.McGrath RentCorp makes up approximately 0.15% of Norman Fields Gottscho Capital Management’s portfolio.

McGrath RentCorp closed down -0.03 points or -0.09% at $31.63 with 65,318 shares getting traded on Tuesday. Post opening the session at $31.67, the shares hit an intraday low of $31.5 and an intraday high of $31.89 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, McGrath RentCorp reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.34. The company had revenue of $103.10 million for the quarter, compared to analysts expectations of $98.58 million. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Investors should note that on Sep 21, 2016, McGrath RentCorp announced a cash dividend of $0.2550. The company’s management has announced Oct 13, 2016 as the ex-dividend date and fixed the record date on Oct 17, 2016. The payable date has been fixed on Oct 31, 2016.

McGrath RentCorp is a business-to-business rental company with three rental divisions: relocatable modular buildings electronic test equipment and liquid and solid containment tanks and boxes. The Company’s primary emphasis is on equipment rentals. However sales of equipment occur in the normal course of business. The Company is comprised of four business segments: modular building and portable storage rental division (Mobile Modular); electronic test equipment rental division (TRS-RenTelco); wholly owned subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids (Adler Tanks); and wholly owned subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex). The Mobile Modular business segment includes Mobile Modular Portable Storage.

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