Snyder Capital Management L P Raises Stock Holdings in McGrath RentCorp $MGRC

Snyder Capital Management L P boosted its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 5.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 383,013 shares of the financial services provider’s stock after purchasing an additional 19,365 shares during the quarter. Snyder Capital Management L P’s holdings in McGrath RentCorp were worth $44,927,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of McGrath RentCorp during the third quarter worth approximately $29,000. Cullen Frost Bankers Inc. bought a new position in McGrath RentCorp during the 3rd quarter valued at $30,000. EverSource Wealth Advisors LLC boosted its stake in McGrath RentCorp by 767.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 238 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in McGrath RentCorp during the 2nd quarter worth $37,000. Finally, Strs Ohio bought a new stake in shares of McGrath RentCorp in the 1st quarter worth about $56,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McGrath RentCorp

In other news, SVP Gilda Malek sold 829 shares of McGrath RentCorp stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $107.29, for a total transaction of $88,943.41. Following the sale, the senior vice president owned 4,068 shares of the company’s stock, valued at approximately $436,455.72. The trade was a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MGRC. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of McGrath RentCorp in a research report on Tuesday, January 27th. Barclays initiated coverage on McGrath RentCorp in a report on Wednesday, February 11th. They set an “overweight” rating and a $140.00 target price on the stock. Finally, Zacks Research raised McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, McGrath RentCorp has an average rating of “Moderate Buy” and an average target price of $141.50.

McGrath RentCorp Trading Up 2.6%

Shares of NASDAQ MGRC opened at $111.10 on Thursday. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $128.41. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.07 and a beta of 0.50. The stock’s 50 day simple moving average is $112.23 and its 200 day simple moving average is $112.76.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, February 25th. The financial services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.28. The firm had revenue of $256.76 million for the quarter, compared to analyst estimates of $254.32 million. McGrath RentCorp had a return on equity of 13.21% and a net margin of 16.55%. As a group, equities analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be given a $0.495 dividend. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, April 16th. This represents a $1.98 annualized dividend and a yield of 1.8%. McGrath RentCorp’s payout ratio is currently 31.18%.

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.