Quantbot Technologies LP Makes New Investment in McGrath RentCorp $MGRC

Quantbot Technologies LP purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,217 shares of the financial services provider’s stock, valued at approximately $752,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. River Road Asset Management LLC boosted its stake in shares of McGrath RentCorp by 3.1% during the fourth quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock valued at $223,619,000 after purchasing an additional 64,566 shares during the period. William Blair Investment Management LLC bought a new stake in McGrath RentCorp during the 2nd quarter valued at $22,833,000. Comerica Bank boosted its position in McGrath RentCorp by 96.8% during the 4th quarter. Comerica Bank now owns 58,374 shares of the financial services provider’s stock valued at $6,125,000 after buying an additional 28,719 shares during the period. Bank of America Corp DE boosted its position in McGrath RentCorp by 26.7% during the 1st quarter. Bank of America Corp DE now owns 123,549 shares of the financial services provider’s stock valued at $13,625,000 after buying an additional 26,022 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in McGrath RentCorp in the 1st quarter worth $3,877,000. 92.05% of the stock is owned by institutional investors.

McGrath RentCorp Stock Performance

NASDAQ MGRC opened at $114.15 on Thursday. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $127.68. The stock has a 50 day simple moving average of $118.54 and a two-hundred day simple moving average of $114.15. The stock has a market cap of $2.79 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.16 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.10). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. The business had revenue of $221.11 million for the quarter, compared to analysts’ expectations of $236.51 million. Sell-side analysts predict that McGrath RentCorp will post 6.37 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a $0.495 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.98 annualized dividend and a yield of 1.7%. McGrath RentCorp’s payout ratio is 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 research report 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.50.

Insiders Place Their Bets

In other McGrath RentCorp news, Director Joseph F. Hanna sold 7,500 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $120.64, for a total transaction of $904,800.00. Following the transaction, the director directly owned 151,549 shares of the company’s stock, valued at approximately $18,282,871.36. The trade was a 4.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John P. Skenesky sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $120.41, for a total transaction of $240,820.00. Following the completion of the transaction, the vice president owned 10,634 shares of the company’s stock, valued at $1,280,439.94. This trade represents a 15.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,408 shares of company stock valued at $3,014,686 over the last quarter. 1.40% of the stock is owned by company insiders.

About McGrath RentCorp

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.