McGrath RentCorp $MGRC Position Raised by Denali Advisors LLC

Denali Advisors LLC boosted its position in McGrath RentCorp (NASDAQ:MGRC) by 82.7% in the second quarter, HoldingsChannel.com reports. The firm owned 48,418 shares of the financial services provider’s stock after purchasing an additional 21,918 shares during the quarter. Denali Advisors LLC’s holdings in McGrath RentCorp were worth $5,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of McGrath RentCorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider’s stock worth $1,618,000 after buying an additional 639 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in McGrath RentCorp by 5.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,256 shares of the financial services provider’s stock valued at $8,606,000 after buying an additional 3,967 shares in the last quarter. Jane Street Group LLC boosted its stake in McGrath RentCorp by 2,213.6% during the first quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider’s stock valued at $6,477,000 after buying an additional 55,627 shares in the last quarter. Focus Partners Wealth boosted its stake in McGrath RentCorp by 68.6% during the first quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider’s stock valued at $228,000 after buying an additional 832 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in McGrath RentCorp by 24.8% during the first quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider’s stock worth $1,537,000 after acquiring an additional 2,745 shares during the period. 92.05% of the stock is owned by institutional investors.

McGrath RentCorp Stock Performance

Shares of NASDAQ:MGRC opened at $118.33 on Thursday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.20 and a beta of 0.44. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $127.68. The company has a 50 day moving average price of $118.41 and a 200 day moving average price of $114.19.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.10). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. The company had revenue of $221.11 million during the quarter, compared to the consensus estimate of $236.51 million. On average, sell-side analysts expect that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, July 17th. McGrath RentCorp’s payout ratio is presently 31.88%.

Insider Activity at McGrath RentCorp

In related news, Director Joseph F. Hanna sold 7,500 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $120.64, for a total value of $904,800.00. Following the completion of the transaction, the director owned 151,549 shares in the company, valued at $18,282,871.36. This trade represents a 4.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Lieffrig sold 500 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $125.00, for a total value of $62,500.00. Following the completion of the transaction, the vice president owned 23,551 shares of the company’s stock, valued at $2,943,875. This trade represents a 2.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,408 shares of company stock valued at $3,014,686 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.50.

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.