Eminence Capital LP Increases Stock Position in McGrath RentCorp $MGRC

Eminence Capital LP boosted its stake in McGrath RentCorp (NASDAQ:MGRC) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 949,673 shares of the financial services provider’s stock after purchasing an additional 4,701 shares during the quarter. McGrath RentCorp comprises approximately 1.6% of Eminence Capital LP’s portfolio, making the stock its 29th biggest holding. Eminence Capital LP’s holdings in McGrath RentCorp were worth $99,649,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in McGrath RentCorp in the third quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its stake in 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. Danske Bank A S purchased a new stake in McGrath RentCorp in the third quarter valued at approximately $47,000. Strs Ohio purchased a new stake in McGrath RentCorp in the first quarter valued at approximately $56,000. Finally, Covestor Ltd raised its stake in McGrath RentCorp by 52.0% in the fourth quarter. Covestor Ltd now owns 1,385 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 474 shares in the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

McGrath RentCorp Stock Performance

MGRC stock opened at $113.76 on Thursday. The company has a market capitalization of $2.79 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.16 and a beta of 0.44. McGrath RentCorp has a one year low of $94.99 and a one year high of $128.41. The company’s 50 day moving average price is $112.71 and its two-hundred day moving average price is $110.74.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.03). McGrath RentCorp had a return on equity of 12.84% and a net margin of 16.38%.The business had revenue of $198.54 million for the quarter, compared to analysts’ expectations of $198.19 million. On average, research analysts predict that McGrath RentCorp will post 6.35 EPS for the current year.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, July 17th. McGrath RentCorp’s payout ratio is presently 31.43%.

Insider Activity

In related news, insider Trease Kristina Van sold 3,783 shares of McGrath RentCorp stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $113.65, for a total value of $429,937.95. Following the transaction, the insider directly owned 6,533 shares of the company’s stock, valued at $742,475.45. The trade was a 36.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Gilda Malek sold 1,407 shares of McGrath RentCorp stock in a transaction on Monday, June 15th. The stock was sold at an average price of $114.04, for a total transaction of $160,454.28. Following the completion of the transaction, the senior vice president directly owned 8,018 shares in the company, valued at approximately $914,372.72. The trade was a 14.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 20,051 shares of company stock valued at $2,268,940 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, McGrath RentCorp presently has a consensus rating of “Moderate Buy” and a consensus 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.