Renaissance Group LLC Purchases Shares of 64,669 McGrath RentCorp $MGRC

Renaissance Group LLC acquired a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 64,669 shares of the financial services provider’s stock, valued at approximately $7,586,000. Renaissance Group LLC owned 0.26% of McGrath RentCorp as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in McGrath RentCorp during the third quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of McGrath RentCorp by 767.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of McGrath RentCorp during the 2nd quarter worth about $37,000. Strs Ohio purchased a new stake in shares of McGrath RentCorp during the 1st quarter worth about $56,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in McGrath RentCorp during the 2nd quarter worth approximately $57,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Gilda Malek sold 829 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $107.29, for a total value of $88,943.41. Following the transaction, the senior vice president owned 4,068 shares in the company, valued at approximately $436,455.72. The trade was a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MGRC. Weiss Ratings reiterated a “hold (c+)” rating on shares of McGrath RentCorp in a research note on Tuesday, January 27th. Zacks Research upgraded shares of McGrath RentCorp from a “strong sell” rating to a “hold” rating in a report on Thursday, January 15th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $143.00.

McGrath RentCorp Stock Down 0.6%

MGRC opened at $119.43 on Friday. The firm’s 50 day moving average is $109.18 and its 200-day moving average is $113.61. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $129.93. The firm has a market capitalization of $2.94 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.17 and a beta of 0.51.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, January 16th. This represents a $1.94 annualized dividend and a dividend yield of 1.6%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 32.83%.

McGrath RentCorp Profile

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.