210,294 Shares in McGrath RentCorp $MGRC Purchased by Medina Value Partners LLC

Medina Value Partners LLC bought a new position in McGrath RentCorp (NASDAQ:MGRC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 210,294 shares of the financial services provider’s stock, valued at approximately $25,451,883. McGrath RentCorp makes up about 0.0% of Medina Value Partners LLC’s holdings, making the stock its 5th biggest holding. Medina Value Partners LLC owned approximately 0.86% of McGrath RentCorp at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Jupiter Topco LLC purchased a new position in McGrath RentCorp during the second quarter worth approximately $1,369,000. Manatuck Hill Partners LLC acquired a new position in shares of McGrath RentCorp in the second quarter worth about $4,878,000. Legal & General Group Plc bought a new stake in McGrath RentCorp in the second quarter valued at $3,005,000. The Manufacturers Life Insurance Company acquired a new stake in shares of McGrath RentCorp during the second quarter worth $1,548,000. Finally, Algert Global LLC increased its stake in shares of McGrath RentCorp by 11.0% during the 2nd quarter. Algert Global LLC now owns 59,827 shares of the financial services provider’s stock worth $7,241,000 after purchasing an additional 5,910 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Analysts Set New Price Targets

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

McGrath RentCorp Stock Performance

Shares of MGRC traded down $1.47 during midday trading on Friday, hitting $112.28. 127,134 shares of the stock were exchanged, compared to its average volume of 180,404. The stock has a fifty day simple moving average of $118.45 and a 200 day simple moving average of $114.11. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $127.68. The firm has a market cap of $2.74 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.16 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). The firm had revenue of $221.11 million for the quarter, compared to analysts’ expectations of $236.51 million. McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%. As a group, equities research analysts forecast that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were given a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.98 annualized dividend and a dividend yield of 1.8%. McGrath RentCorp’s payout ratio is 31.88%.

Insider Buying and Selling

In other McGrath RentCorp news, SVP Gilda Malek sold 1,407 shares of McGrath RentCorp stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $114.04, for a total transaction of $160,454.28. Following the transaction, the senior vice president directly owned 8,018 shares of the company’s stock, valued at approximately $914,372.72. The trade was a 14.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Philip B. Hawkins sold 4,435 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $120.91, for a total value of $536,235.85. Following the completion of the sale, the chief executive officer directly owned 13,371 shares of the company’s stock, valued at $1,616,687.61. This represents a 24.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 25,408 shares of company stock valued at $3,014,686 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

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.