AlphaQuest LLC Has $688,000 Stake in McGrath RentCorp $MGRC

AlphaQuest LLC raised its position in McGrath RentCorp (NASDAQ:MGRC) by 3.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,930 shares of the financial services provider’s stock after purchasing an additional 170 shares during the period. AlphaQuest LLC’s holdings in McGrath RentCorp were worth $688,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGRC. 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 valued at $70,000 after acquiring an additional 100 shares during the period. Hsbc Holdings PLC boosted its stake in McGrath RentCorp by 3.9% during the first quarter. Hsbc Holdings PLC now owns 4,117 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 153 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in McGrath RentCorp by 9.1% during the first quarter. Nisa Investment Advisors LLC now owns 2,093 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 174 shares in the last quarter. Hamilton Point Investment Advisors LLC boosted its stake in McGrath RentCorp by 0.4% during the first quarter. Hamilton Point Investment Advisors LLC now owns 54,314 shares of the financial services provider’s stock worth $6,051,000 after acquiring an additional 192 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in McGrath RentCorp by 8.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,621 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Activity

In other news, Director Kimberly Ann Box sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $118.50, for a total value of $177,750.00. Following the completion of the sale, the director owned 7,000 shares in the company, valued at $829,500. This represents a 17.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

McGrath RentCorp Trading Down 0.1%

Shares of MGRC stock opened at $114.40 on Tuesday. The firm has a market capitalization of $2.82 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56. The firm has a fifty day simple moving average of $119.96 and a two-hundred day simple moving average of $116.43. McGrath RentCorp has a 12 month low of $97.81 and a 12 month high of $129.93.

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

McGrath RentCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a $0.485 dividend. The ex-dividend date is Friday, October 17th. This represents a $1.94 annualized dividend and a dividend yield of 1.7%. McGrath RentCorp’s dividend payout ratio is presently 32.83%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Oppenheimer increased 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. Weiss Ratings reissued a “buy (b-)” rating on shares of McGrath RentCorp in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, McGrath RentCorp has an average rating of “Buy” and a consensus target price of $147.50.

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.