Northwestern Mutual Wealth Management Co. Boosts Stock Position in McGrath RentCorp $MGRC

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 690,151.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 296,808 shares of the financial services provider’s stock after acquiring an additional 296,765 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in McGrath RentCorp were worth $31,144,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in McGrath RentCorp by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider’s stock valued at $1,422,000 after acquiring an additional 85 shares during the period. Diversified Trust Co. boosted its holdings in McGrath RentCorp by 4.6% during the 4th quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 103 shares during the period. Arizona State Retirement System boosted its holdings in McGrath RentCorp by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 7,270 shares of the financial services provider’s stock valued at $853,000 after acquiring an additional 119 shares during the period. California State Teachers Retirement System boosted its holdings in McGrath RentCorp by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 22,696 shares of the financial services provider’s stock valued at $2,632,000 after acquiring an additional 119 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in McGrath RentCorp by 8.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 1,874 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, Director Joseph F. Hanna sold 530 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $112.00, for a total value of $59,360.00. Following the completion of the sale, the director directly owned 159,049 shares in the company, valued at approximately $17,813,488. This represents a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MGRC shares. Barclays started coverage on McGrath RentCorp in a report on Wednesday, February 11th. They set an “overweight” rating and a $140.00 price objective for the company. Weiss Ratings cut McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

McGrath RentCorp Trading Up 0.9%

Shares of MGRC stock opened at $112.76 on Tuesday. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $128.41. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 1.13 and a beta of 0.45. The stock has a fifty day simple moving average of $111.12 and a two-hundred day simple moving average of $109.56.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.03). McGrath RentCorp had a return on equity of 12.84% and a net margin of 16.38%.The firm had revenue of $198.54 million during the quarter, compared to analysts’ expectations of $198.19 million. Research analysts predict that McGrath RentCorp will post 6.35 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were issued a $0.495 dividend. The ex-dividend date was Thursday, April 16th. This represents a $1.98 annualized dividend and a dividend yield of 1.8%. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.49. McGrath RentCorp’s dividend payout ratio (DPR) is currently 31.43%.

McGrath RentCorp Company 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.