5,937 Shares in McGrath RentCorp $MGRC Purchased by Gallacher Capital Management LLC

Key Points

• Gallacher Capital Management LLC purchased 5,937 shares of McGrath RentCorp, valued at approximately $688,000, in the second quarter.
• The CEO, Joseph F. Hanna, sold 14,577 shares at an average price of $126.55, which represents a 8.67% decrease in his holdings.
• McGrath RentCorp reported earnings of $1.46 per share for the most recent quarter, exceeding estimates and reflecting a 10.8% year-over-year revenue increase.

Gallacher Capital Management LLC acquired a new position in McGrath RentCorp (NASDAQ:MGRC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,937 shares of the financial services provider's stock, valued at approximately $688,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in McGrath RentCorp in the first quarter worth about $56,000. Focus Partners Wealth acquired a new position in shares of McGrath RentCorp during the 4th quarter worth about $136,000. State of Wyoming acquired a new position in shares of McGrath RentCorp during the 4th quarter worth about $159,000. Teza Capital Management LLC acquired a new position in shares of McGrath RentCorp during the 4th quarter worth about $213,000. Finally, Nisa Investment Advisors LLC grew its position in shares of McGrath RentCorp by 9.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,093 shares of the financial services provider's stock worth $233,000 after buying an additional 174 shares during the period. 92.05% of the stock is currently owned by institutional investors and hedge funds.

McGrath RentCorp Trading Down 2.9%

McGrath RentCorp stock opened at $122.31 on Monday. The firm has a market capitalization of $3.01 billion, a P/E ratio of 11.91, a PEG ratio of 1.26 and a beta of 0.61. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $129.93. The business has a 50-day moving average of $120.81 and a 200-day moving average of $115.10.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.16. The company had revenue of $235.62 million during the quarter, compared to analyst estimates of $220.71 million. McGrath RentCorp had a return on equity of 13.52% and a net margin of 26.81%.The company's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. McGrath RentCorp has set its FY 2025 guidance at EPS. Research analysts anticipate that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

Insider Activity

In other news, CEO Joseph F. Hanna sold 14,577 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $126.55, for a total transaction of $1,844,719.35. Following the completion of the transaction, the chief executive officer directly owned 153,637 shares in the company, valued at approximately $19,442,762.35. The trade was a 8.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimberly Ann Box sold 1,500 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 7,000 shares of the company's stock, valued at $829,500. This represents a 17.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

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.

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