McGrath RentCorp $MGRC Holdings Trimmed by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its holdings in McGrath RentCorp (NASDAQ:MGRC) by 48.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,404 shares of the financial services provider’s stock after selling 13,764 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.06% of McGrath RentCorp worth $1,588,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in McGrath RentCorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider’s stock valued at $1,618,000 after buying an additional 639 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in McGrath RentCorp by 5.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,256 shares of the financial services provider’s stock worth $8,606,000 after acquiring an additional 3,967 shares during the period. Jane Street Group LLC boosted its position in McGrath RentCorp by 2,213.6% during the 1st quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider’s stock worth $6,477,000 after acquiring an additional 55,627 shares during the period. Focus Partners Wealth grew its stake in McGrath RentCorp by 68.6% during the 1st quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 832 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in McGrath RentCorp by 24.8% during the 1st quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider’s stock valued at $1,537,000 after acquiring an additional 2,745 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

McGrath RentCorp Stock Up 0.9%

Shares of MGRC opened at $114.58 on Friday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.15 and a beta of 0.43. The company’s fifty day moving average is $114.11 and its 200-day moving average is $112.26. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $128.41.

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

McGrath RentCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, July 17th. McGrath RentCorp’s dividend payout ratio is 31.43%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.50.

Insider Activity at McGrath RentCorp

In related news, SVP Gilda Malek sold 1,407 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $114.04, for a total value of $160,454.28. Following the completion of the sale, the senior vice president directly owned 8,018 shares in the company, valued at approximately $914,372.72. The trade was a 14.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Trease Kristina Van sold 3,783 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total value of $429,937.95. Following the sale, the insider directly owned 6,533 shares of the company’s stock, valued at $742,475.45. The trade was a 36.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,051 shares of company stock worth $3,486,240 in the last 90 days. Insiders own 1.40% of the company’s stock.

McGrath RentCorp 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.