Segall Bryant & Hamill LLC Has $8.33 Million Stake in McGrath RentCorp $MGRC

Segall Bryant & Hamill LLC raised its holdings in McGrath RentCorp (NASDAQ:MGRC) by 20.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,788 shares of the financial services provider’s stock after buying an additional 12,199 shares during the quarter. Segall Bryant & Hamill LLC owned 0.29% of McGrath RentCorp worth $8,325,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MGRC. Envestnet Asset Management Inc. raised its holdings in McGrath RentCorp by 24.7% during the first quarter. Envestnet Asset Management Inc. now owns 20,600 shares of the financial services provider’s stock worth $2,295,000 after buying an additional 4,085 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in McGrath RentCorp during the 1st quarter worth approximately $1,054,000. Y Intercept Hong Kong Ltd increased its holdings in McGrath RentCorp by 27.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 5,199 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 1,132 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of McGrath RentCorp by 102.0% in the first quarter. KLP Kapitalforvaltning AS now owns 10,300 shares of the financial services provider’s stock worth $1,147,000 after purchasing an additional 5,200 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of McGrath RentCorp by 10.9% in the first quarter. TD Asset Management Inc now owns 21,740 shares of the financial services provider’s stock worth $2,422,000 after purchasing an additional 2,140 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MGRC. Weiss Ratings downgraded McGrath RentCorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 30th. Oppenheimer upped their target price on shares of McGrath RentCorp from $139.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $147.50.

McGrath RentCorp Trading Up 4.3%

Shares of McGrath RentCorp stock opened at $99.98 on Monday. The business’s fifty day simple moving average is $112.82 and its 200 day simple moving average is $116.27. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $129.93. The firm has a market capitalization of $2.46 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.18 and a beta of 0.55.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.11). The business had revenue of $256.44 million for the quarter, compared to analysts’ expectations of $266.62 million. McGrath RentCorp had a net margin of 15.62% and a return on equity of 12.59%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.87 earnings per share. McGrath RentCorp has set its FY 2025 guidance at EPS. Analysts predict that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 17th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, October 17th. McGrath RentCorp’s dividend payout ratio (DPR) is 32.83%.

About McGrath RentCorp

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.