Cim LLC Sells 180 Shares of McGrath RentCorp $MGRC

Cim LLC reduced its position in McGrath RentCorp (NASDAQ:MGRC) by 3.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,457 shares of the financial services provider’s stock after selling 180 shares during the period. Cim LLC’s holdings in McGrath RentCorp were worth $496,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MGRC. Channing Capital Management LLC bought a new stake in shares of McGrath RentCorp in the 1st quarter valued at about $55,049,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of McGrath RentCorp by 13.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,038,460 shares of the financial services provider’s stock valued at $115,685,000 after buying an additional 120,829 shares in the last quarter. New York State Common Retirement Fund boosted its stake in McGrath RentCorp by 1,337.6% in the 1st quarter. New York State Common Retirement Fund now owns 120,871 shares of the financial services provider’s stock worth $13,465,000 after purchasing an additional 112,463 shares in the last quarter. Eminence Capital LP boosted its stake in McGrath RentCorp by 12.0% in the 1st quarter. Eminence Capital LP now owns 840,071 shares of the financial services provider’s stock worth $93,584,000 after purchasing an additional 89,773 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in McGrath RentCorp in the 1st quarter worth approximately $8,480,000. 92.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Kimberly Ann Box sold 1,500 shares of McGrath RentCorp stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $118.50, for a total value of $177,750.00. Following the completion of the sale, the director directly owned 7,000 shares in the company, valued at $829,500. This trade represents a 17.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph F. Hanna sold 14,577 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $126.55, for a total transaction of $1,844,719.35. Following the transaction, the chief executive officer directly owned 153,637 shares of the company’s stock, valued at $19,442,762.35. This represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

McGrath RentCorp Stock Up 2.8%

MGRC stock opened at $125.99 on Friday. The firm has a 50 day moving average of $120.77 and a 200 day moving average of $115.25. The stock has a market capitalization of $3.10 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.61. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Thursday, July 24th. The financial services provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.16. The company had revenue of $235.62 million during the quarter, compared to analysts’ expectations of $220.71 million. McGrath RentCorp had a net margin of 26.81% and a return on equity of 13.52%. McGrath RentCorp’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. McGrath RentCorp has set its FY 2025 guidance at EPS. On average, equities research analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Company Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.