18,423 Shares in McGrath RentCorp $MGRC Acquired by KTF Investments LLC

Key Points

• KTF Investments LLC established a new stake in McGrath RentCorp, purchasing 18,423 shares in Q4 worth about $1.93 million, roughly 0.07% of the company.
• McGrath beat expectations for the quarter with EPS of $2.02 vs. $1.74 and revenue of $256.76M, and raised its quarterly dividend to $0.495 (annualized $1.98, yield ~1.7%).
• Analyst sentiment is generally positive: Barclays initiated coverage with an "overweight" rating and $140 target, and MarketBeat shows an average rating of "Moderate Buy" with a $141.50 target (two Buys, two Holds).

KTF Investments LLC purchased a new position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,423 shares of the financial services provider's stock, valued at approximately $1,933,000. KTF Investments LLC owned about 0.07% of McGrath RentCorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MGRC. Aster Capital Management DIFC Ltd bought a new stake in shares of McGrath RentCorp during the 3rd quarter worth approximately $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of McGrath RentCorp during the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of McGrath RentCorp by 767.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider's stock worth $31,000 after acquiring an additional 238 shares during the last quarter. Danske Bank A S bought a new stake in shares of McGrath RentCorp during the 3rd quarter worth approximately $47,000. Finally, Strs Ohio bought a new stake in shares of McGrath RentCorp during the 1st quarter worth approximately $56,000. 92.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MGRC has been the subject of a number of research analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of McGrath RentCorp in a research note on Friday. Barclays assumed coverage on McGrath RentCorp in a report on Wednesday, February 11th. They issued an "overweight" rating and a $140.00 target price for the company. Finally, Zacks Research upgraded McGrath RentCorp from a "strong sell" rating to a "hold" rating in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $141.50.

McGrath RentCorp Trading Up 2.0%

Shares of MGRC stock opened at $118.11 on Tuesday. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $128.41. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.15 and a beta of 0.49. The stock has a fifty day simple moving average of $110.75 and a two-hundred day simple moving average of $109.85.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its earnings results on Wednesday, February 25th. The financial services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.28. McGrath RentCorp had a return on equity of 13.21% and a net margin of 16.55%.The business had revenue of $256.76 million during the quarter, compared to analysts' expectations of $254.32 million. Research analysts predict that McGrath RentCorp will post 6.52 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be issued a $0.495 dividend. The ex-dividend date is Thursday, April 16th. This represents a $1.98 annualized dividend and a dividend yield of 1.7%. This is a positive change from McGrath RentCorp's previous quarterly dividend of $0.49. McGrath RentCorp's dividend payout ratio (DPR) is currently 31.18%.

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.

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