11,314 Shares in McGrath RentCorp $MGRC Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 11,314 shares of McGrath RentCorp worth approximately $1.37 million in the second quarter. Institutional investors collectively own 92.05% of the company.
• Analysts maintain a “Moderate Buy” consensus rating with a $141.50 target price, despite the latest quarterly results missing expectations: EPS was $1.37 versus $1.47 expected, while revenue was $221.11 million versus $236.51 million estimated.
• McGrath RentCorp shares opened at $111.59, compared with a 52-week range of $94.99 to $127.68. Company insiders sold 25,408 shares worth roughly $3.01 million over the past three months.

Jupiter Topco LLC purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,314 shares of the financial services provider's stock, valued at approximately $1,369,000.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in McGrath RentCorp by 0.7% in the second quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider's stock valued at $1,422,000 after purchasing an additional 85 shares during the period. California State Teachers Retirement System increased its holdings in shares of McGrath RentCorp by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 22,696 shares of the financial services provider's stock valued at $2,632,000 after acquiring an additional 119 shares during the last quarter. Neuberger Berman Group LLC lifted its position in McGrath RentCorp by 6.9% in the fourth quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider's stock valued at $204,000 after acquiring an additional 126 shares during the last quarter. Osaic Holdings Inc. lifted its stake in McGrath RentCorp by 1.0% in the fourth quarter. Osaic Holdings Inc. now owns 15,596 shares of the financial services provider's stock valued at $1,636,000 after buying an additional 149 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of McGrath RentCorp by 0.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,748 shares of the financial services provider's stock worth $7,004,000 after buying an additional 175 shares during the period. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded McGrath RentCorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $141.50.

McGrath RentCorp Stock Performance

Shares of MGRC stock opened at $111.59 on Friday. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.11 and a beta of 0.45. The company has a 50 day moving average price of $117.29 and a 200 day moving average price of $113.90. McGrath RentCorp has a one year low of $94.99 and a one year high of $127.68.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.47 by ($0.10). The company had revenue of $221.11 million during the quarter, compared to analyst estimates of $236.51 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. As a group, equities analysts forecast that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

Insider Activity

In related news, insider Kristina Van Trease sold 3,783 shares of the firm'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 owned 6,533 shares of the company's stock, valued at approximately $742,475.45. This trade represents a 36.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John P. Skenesky sold 2,000 shares of McGrath RentCorp stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $120.41, for a total transaction of $240,820.00. Following the completion of the sale, the vice president owned 10,634 shares in the company, valued at approximately $1,280,439.94. This represents a 15.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,408 shares of company stock valued at $3,014,686 over the last three months. 1.40% of the stock is currently owned by company insiders.

McGrath RentCorp Company 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.

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