Susquehanna International Group LLP Purchases 63,537 Shares of McGrath RentCorp $MGRC

Susquehanna International Group LLP boosted its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 73.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,537 shares of the financial services provider’s stock after purchasing an additional 63,537 shares during the period. Susquehanna International Group LLP’s holdings in McGrath RentCorp were worth $18,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MGRC. EverSource Wealth Advisors LLC lifted its holdings in shares of McGrath RentCorp by 767.7% in the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of McGrath RentCorp during the second quarter worth about $45,000. Danske Bank A S bought a new position in shares of McGrath RentCorp during the third quarter worth about $47,000. Strs Ohio acquired a new stake in McGrath RentCorp in the 1st quarter valued at approximately $56,000. Finally, Covestor Ltd raised its position in McGrath RentCorp by 52.0% in the 4th quarter. Covestor Ltd now owns 1,385 shares of the financial services provider’s stock valued at $145,000 after buying an additional 474 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Buying and Selling

In related news, VP John P. Skenesky sold 2,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $120.41, for a total value of $240,820.00. Following the sale, the vice president owned 10,634 shares in the company, valued at approximately $1,280,439.94. This represents a 15.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the vice president owned 23,551 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 25,408 shares of company stock valued at $3,014,686. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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 issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.50.

McGrath RentCorp Stock Performance

Shares of MGRC stock opened at $112.28 on Monday. The firm’s 50-day moving average is $118.33 and its 200-day moving average is $114.07. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.14 and a beta of 0.44. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $127.68.

McGrath RentCorp (NASDAQ:MGRC) last issued its 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 firm had revenue of $221.11 million during the quarter, compared to analyst estimates of $236.51 million. Sell-side analysts predict that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 31.88%.

About McGrath RentCorp

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.