McGrath RentCorp $MGRC Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 15.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,916 shares of the financial services provider’s stock after purchasing an additional 8,245 shares during the quarter. ProShare Advisors LLC’s holdings in McGrath RentCorp were worth $6,497,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Eminence Capital LP boosted its holdings in shares of McGrath RentCorp by 5.6% during the third quarter. Eminence Capital LP now owns 944,972 shares of the financial services provider’s stock worth $110,845,000 after purchasing an additional 49,930 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of McGrath RentCorp by 3.4% during the third quarter. Victory Capital Management Inc. now owns 893,629 shares of the financial services provider’s stock worth $104,823,000 after purchasing an additional 29,644 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of McGrath RentCorp by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 839,851 shares of the financial services provider’s stock worth $98,513,000 after purchasing an additional 6,589 shares during the last quarter. Channing Capital Management LLC boosted its holdings in shares of McGrath RentCorp by 19.8% during the third quarter. Channing Capital Management LLC now owns 601,583 shares of the financial services provider’s stock worth $70,566,000 after purchasing an additional 99,626 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of McGrath RentCorp by 3.6% during the second quarter. State Street Corp now owns 597,972 shares of the financial services provider’s stock worth $69,341,000 after purchasing an additional 20,609 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Activity at McGrath RentCorp

In related news, insider Trease Kristina Van sold 539 shares of McGrath RentCorp stock in a transaction on Friday, May 15th. The stock was sold at an average price of $115.00, for a total value of $61,985.00. Following the transaction, the insider owned 10,316 shares in the company, valued at approximately $1,186,340. This trade represents a 4.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph F. Hanna sold 9,470 shares of McGrath RentCorp stock in a transaction on Monday, May 4th. The shares were sold at an average price of $112.49, for a total value of $1,065,280.30. Following the completion of the transaction, the director owned 159,579 shares in the company, valued at $17,951,041.71. The trade was a 5.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,078 shares of company stock worth $1,248,610. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

McGrath RentCorp Trading Up 0.4%

Shares of McGrath RentCorp stock opened at $110.08 on Friday. 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 $2.70 billion, a P/E ratio of 17.47, a PEG ratio of 1.11 and a beta of 0.45. The business’s fifty day moving average price is $111.47 and its 200 day moving average price is $109.57.

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 analysts’ consensus estimates of $1.13 by ($0.03). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. The firm had revenue of $198.54 million during the quarter, compared to analyst estimates of $198.19 million. As a group, sell-side analysts predict that McGrath RentCorp will post 6.35 EPS for the current year.

McGrath RentCorp Increases Dividend

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

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.