Ranger Investment Management L.P. Acquires New Holdings in McGrath RentCorp $MGRC

Ranger Investment Management L.P. bought a new stake in McGrath RentCorp (NASDAQ:MGRC) during the 2nd quarter, Holdings Channel.com reports. The fund bought 39,415 shares of the financial services provider’s stock, valued at approximately $4,770,000.

A number of other large investors have also added to or reduced their stakes in MGRC. EverSource Wealth Advisors LLC lifted its position in shares of McGrath RentCorp by 767.7% during the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after buying an additional 238 shares during the last quarter. Danske Bank A S acquired a new stake in McGrath RentCorp in the third quarter valued at approximately $47,000. Strs Ohio purchased a new position in McGrath RentCorp in the first quarter worth $56,000. Covestor Ltd grew its holdings in 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 increased its position in shares of McGrath RentCorp by 6.9% during the fourth quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 126 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors.

McGrath RentCorp Price Performance

MGRC opened at $116.65 on Monday. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $127.68. The company has a market cap of $2.85 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The firm’s 50-day moving average price is $118.47 and its 200-day moving average price is $114.23.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.10). The company had revenue of $221.11 million during the quarter, compared to analysts’ expectations of $236.51 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. On average, research analysts anticipate that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a $0.495 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.7%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 31.88%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Two equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.50.

Insiders Place Their Bets

In other news, insider Trease Kristina Van sold 3,783 shares of McGrath RentCorp stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $113.65, for a total transaction of $429,937.95. Following the completion of the sale, the insider directly owned 6,533 shares in the company, valued at approximately $742,475.45. The trade was a 36.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John P. Skenesky sold 2,000 shares of McGrath RentCorp 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 sale, the vice president owned 10,634 shares of the company’s stock, valued at $1,280,439.94. The trade was a 15.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 25,408 shares of company stock valued at $3,014,686. Corporate insiders own 1.40% of the company’s stock.

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.