7,510 Shares in McGrath RentCorp $MGRC Bought by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,510 shares of the financial services provider’s stock, valued at approximately $909,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in McGrath RentCorp by 767.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 238 shares in the last quarter. Danske Bank A S purchased a new position in shares of McGrath RentCorp during the third quarter valued at about $47,000. Strs Ohio bought a new stake in shares of McGrath RentCorp in the first quarter worth about $56,000. Covestor Ltd increased its holdings in shares of McGrath RentCorp by 52.0% in the fourth quarter. Covestor Ltd now owns 1,385 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 474 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of McGrath RentCorp by 6.9% in the fourth quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider’s stock worth $204,000 after buying an additional 126 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings raised McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, McGrath RentCorp presently has a consensus rating of “Moderate Buy” and an average target price of $141.50.

Insider Buying and Selling

In other news, CAO David M. Whitney sold 3,783 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total value of $429,937.95. Following the completion of the sale, the chief accounting officer directly owned 6,533 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Also, Director Joseph F. Hanna sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $120.64, for a total value of $904,800.00. Following the completion of the sale, the director directly owned 151,549 shares of the company’s stock, valued at $18,282,871.36. The trade was a 4.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,408 shares of company stock valued at $3,014,686 in the last quarter. 1.40% of the stock is currently owned by insiders.

McGrath RentCorp Stock Down 1.3%

McGrath RentCorp stock opened at $112.28 on Friday. The company 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. The firm’s fifty day moving average is $118.33 and its 200 day moving average is $114.09. 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 quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $236.51 million. On average, equities research analysts anticipate that McGrath RentCorp will post 6.37 earnings per share for the current fiscal year.

McGrath RentCorp Announces Dividend

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

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.