26,109 Shares in McGrath RentCorp $MGRC Bought by Fiera Capital Corp

Fiera Capital Corp purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,109 shares of the financial services provider’s stock, valued at approximately $3,028,000. Fiera Capital Corp owned 0.11% of McGrath RentCorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Adirondack Trust Co. lifted its position in shares of McGrath RentCorp by 20.0% during the 2nd quarter. Adirondack Trust Co. now owns 600 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 100 shares during the last quarter. Hsbc Holdings PLC grew its holdings in McGrath RentCorp by 3.9% in the 1st quarter. Hsbc Holdings PLC now owns 4,117 shares of the financial services provider’s stock valued at $460,000 after buying an additional 153 shares during the last quarter. Jennison Associates LLC increased its position in McGrath RentCorp by 1.0% in the 2nd quarter. Jennison Associates LLC now owns 17,577 shares of the financial services provider’s stock worth $2,038,000 after buying an additional 167 shares during the period. AlphaQuest LLC lifted its holdings in shares of McGrath RentCorp by 3.0% during the second quarter. AlphaQuest LLC now owns 5,930 shares of the financial services provider’s stock worth $688,000 after buying an additional 170 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of McGrath RentCorp by 9.1% in the first quarter. Nisa Investment Advisors LLC now owns 2,093 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 174 shares during the period. 92.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MGRC has been the topic of a number of research reports. Oppenheimer boosted their target price on shares of McGrath RentCorp from $139.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Weiss Ratings lowered shares of McGrath RentCorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, McGrath RentCorp presently has an average rating of “Moderate Buy” and an average price target of $147.50.

McGrath RentCorp Stock Down 0.2%

NASDAQ MGRC opened at $101.47 on Friday. The stock has a market cap of $2.50 billion, a P/E ratio of 17.17, a PEG ratio of 1.18 and a beta of 0.55. The company’s 50-day simple moving average is $115.46 and its 200 day simple moving average is $116.55. McGrath RentCorp has a twelve month low of $97.81 and a twelve month high of $129.93.

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

McGrath RentCorp Dividend Announcement

The company 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. The ex-dividend date was Friday, October 17th. This represents a $1.94 dividend on an annualized basis and a yield of 1.9%. McGrath RentCorp’s payout ratio is currently 32.83%.

McGrath RentCorp Company Profile

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.