Schroder Investment Management Group Reduces Stock Position in McGrath RentCorp $MGRC

Schroder Investment Management Group lessened its stake in McGrath RentCorp (NASDAQ:MGRC) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 214,043 shares of the financial services provider’s stock after selling 10,472 shares during the quarter. Schroder Investment Management Group owned about 0.87% of McGrath RentCorp worth $25,017,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MGRC. River Road Asset Management LLC boosted its stake in McGrath RentCorp by 4.0% during the second quarter. River Road Asset Management LLC now owns 1,970,974 shares of the financial services provider’s stock worth $245,958,000 after buying an additional 76,265 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of McGrath RentCorp by 0.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,074,800 shares of the financial services provider’s stock worth $124,634,000 after acquiring an additional 8,609 shares during the last quarter. Eminence Capital LP raised its holdings in shares of McGrath RentCorp by 6.5% during the 2nd quarter. Eminence Capital LP now owns 895,042 shares of the financial services provider’s stock worth $103,789,000 after acquiring an additional 54,971 shares during the period. Victory Capital Management Inc. boosted its position in shares of McGrath RentCorp by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 893,629 shares of the financial services provider’s stock valued at $104,823,000 after acquiring an additional 29,644 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of McGrath RentCorp by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 839,851 shares of the financial services provider’s stock valued at $98,513,000 after purchasing an additional 6,589 shares during the period. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Activity at McGrath RentCorp

In related news, SVP Gilda Malek sold 829 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $107.29, for a total transaction of $88,943.41. Following the completion of the transaction, the senior vice president owned 4,068 shares of the company’s stock, valued at approximately $436,455.72. This trade represents a 16.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MGRC shares. Barclays assumed coverage on shares of McGrath RentCorp in a research note on Wednesday, February 11th. They set an “overweight” rating and a $140.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of McGrath RentCorp in a report on Tuesday, January 27th. Finally, Zacks Research raised shares of McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 15th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, McGrath RentCorp has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

McGrath RentCorp Trading Down 0.7%

Shares of NASDAQ:MGRC opened at $104.00 on Friday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.04 and a beta of 0.50. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $128.41. The business has a 50-day moving average price of $112.19 and a 200 day moving average price of $112.20.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, February 25th. The financial services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.28. The company had revenue of $256.76 million for the quarter, compared to analysts’ expectations of $254.32 million. McGrath RentCorp had a net margin of 16.55% and a return on equity of 13.21%. As a group, equities research analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be issued a $0.495 dividend. The ex-dividend date is Thursday, April 16th. This represents a $1.98 annualized dividend and a dividend yield of 1.9%. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.49. McGrath RentCorp’s dividend payout ratio (DPR) is currently 30.55%.

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.