McGrath RentCorp $MGRC Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lowered its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,000 shares of the financial services provider’s stock after selling 1,172 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.17% of McGrath RentCorp worth $4,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in shares of McGrath RentCorp by 13.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,038,460 shares of the financial services provider’s stock worth $115,685,000 after purchasing an additional 120,829 shares in the last quarter. Eminence Capital LP purchased a new position in McGrath RentCorp in the 4th quarter valued at $83,898,000. Victory Capital Management Inc. boosted its stake in McGrath RentCorp by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 648,772 shares of the financial services provider’s stock worth $72,273,000 after purchasing an additional 7,063 shares during the last quarter. Channing Capital Management LLC acquired a new stake in McGrath RentCorp during the 1st quarter worth $55,049,000. Finally, Silvercrest Asset Management Group LLC grew its holdings in shares of McGrath RentCorp by 12.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 333,046 shares of the financial services provider’s stock worth $37,241,000 after buying an additional 36,057 shares in the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Stock Up 0.9%

Shares of NASDAQ MGRC opened at $125.02 on Thursday. The firm has a 50-day simple moving average of $119.21 and a 200-day simple moving average of $115.22. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.66. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.16. The firm had revenue of $235.62 million for the quarter, compared to analyst estimates of $220.71 million. McGrath RentCorp had a net margin of 26.81% and a return on equity of 13.52%. McGrath RentCorp’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. McGrath RentCorp has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th were given a $0.485 dividend. The ex-dividend date was Thursday, July 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.6%. McGrath RentCorp’s dividend payout ratio is 18.89%.

Insider Buying and Selling

In other McGrath RentCorp news, CAO David M. Whitney sold 2,221 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $114.21, for a total value of $253,660.41. Following the completion of the sale, the chief accounting officer directly owned 6,694 shares in the company, valued at $764,521.74. This represents a 24.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Ann Box sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $118.50, for a total value of $177,750.00. Following the completion of the sale, the director directly owned 7,000 shares of the company’s stock, valued at $829,500. This trade represents a 17.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,519 shares of company stock worth $2,645,800 in the last three months. Company insiders own 1.40% of the company’s stock.

McGrath RentCorp Company Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.