Quantinno Capital Management LP Raises Stock Position in McGrath RentCorp $MGRC

Quantinno Capital Management LP boosted its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 622.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,728 shares of the financial services provider’s stock after purchasing an additional 12,690 shares during the period. Quantinno Capital Management LP owned about 0.06% of McGrath RentCorp worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. River Road Asset Management LLC lifted its holdings in McGrath RentCorp by 3.1% in the 4th quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock worth $223,619,000 after purchasing an additional 64,566 shares during the last quarter. Comerica Bank raised its position in shares of McGrath RentCorp by 96.8% in the fourth quarter. Comerica Bank now owns 58,374 shares of the financial services provider’s stock valued at $6,125,000 after purchasing an additional 28,719 shares during the period. Gabelli Funds LLC lifted its stake in shares of McGrath RentCorp by 28.8% in the fourth quarter. Gabelli Funds LLC now owns 49,243 shares of the financial services provider’s stock worth $5,167,000 after buying an additional 11,011 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of McGrath RentCorp in the first quarter worth $3,877,000. Finally, Tributary Capital Management LLC bought a new stake in shares of McGrath RentCorp during the 4th quarter worth $9,063,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

McGrath RentCorp Stock Down 0.3%

MGRC opened at $120.54 on Thursday. The stock’s 50 day moving average price is $117.45 and its two-hundred day moving average price is $113.97. The firm has a market capitalization of $2.94 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 1.22 and a beta of 0.44. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $127.68.

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). McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%.The business had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. As a group, analysts anticipate that McGrath RentCorp will post 6.37 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, July 17th. McGrath RentCorp’s dividend payout ratio is presently 31.88%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, McGrath RentCorp currently has an average rating of “Moderate Buy” and an average price target of $141.50.

Insider Transactions at McGrath RentCorp

In other McGrath RentCorp news, insider Trease Kristina Van sold 3,783 shares of the firm’s 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 sale, the insider directly owned 6,533 shares in the company, valued at $742,475.45. This trade represents a 36.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John Lieffrig sold 500 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $125.00, for a total transaction of $62,500.00. Following the transaction, the vice president owned 23,551 shares in the company, valued at approximately $2,943,875. The trade was a 2.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 20,051 shares of company stock worth $2,361,600. 1.40% of the stock is currently owned by insiders.

McGrath RentCorp Company 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.