McGrath RentCorp $MGRC Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. cut its stake in McGrath RentCorp (NASDAQ:MGRC) by 74.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,076 shares of the financial services provider’s stock after selling 8,749 shares during the quarter. Hantz Financial Services Inc.’s holdings in McGrath RentCorp were worth $323,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Eminence Capital LP raised its stake in shares of McGrath RentCorp by 5.6% during the 3rd quarter. Eminence Capital LP now owns 944,972 shares of the financial services provider’s stock worth $110,845,000 after buying an additional 49,930 shares during the period. Victory Capital Management Inc. raised its stake 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 worth $104,823,000 after buying an additional 29,644 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of McGrath RentCorp by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 839,851 shares of the financial services provider’s stock worth $98,513,000 after buying an additional 6,589 shares during the period. Channing Capital Management LLC raised its stake in shares of McGrath RentCorp by 19.8% during the 3rd quarter. Channing Capital Management LLC now owns 601,583 shares of the financial services provider’s stock worth $70,566,000 after buying an additional 99,626 shares during the period. Finally, State Street Corp raised its stake in shares of McGrath RentCorp by 3.6% during the 2nd quarter. State Street Corp now owns 597,972 shares of the financial services provider’s stock worth $69,341,000 after buying an additional 20,609 shares during the period. 92.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McGrath RentCorp

In related news, CAO David M. Whitney sold 539 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $115.00, for a total value of $61,985.00. Following the completion of the transaction, the chief accounting officer directly owned 10,316 shares of the company’s stock, valued at approximately $1,186,340. This represents a 4.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph F. Hanna sold 9,470 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $112.49, for a total value of $1,065,280.30. Following the completion of the transaction, the director directly owned 159,579 shares of the company’s stock, valued at approximately $17,951,041.71. This represents a 5.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,078 shares of company stock valued at $1,248,610. 1.40% of the stock is owned by insiders.

McGrath RentCorp Price Performance

Shares of MGRC stock opened at $108.99 on Friday. The stock has a 50 day simple moving average of $112.08 and a 200-day simple moving average of $109.71. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $128.41. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.13 and a beta of 0.45.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.03). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. The firm had revenue of $198.54 million during the quarter, compared to analyst estimates of $198.19 million. Analysts anticipate that McGrath RentCorp will post 6.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays assumed coverage on McGrath RentCorp in a research note on Wednesday, February 11th. They set an “overweight” rating and a $140.00 target price for the company. Weiss Ratings downgraded McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.50.

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.