Charles Schwab Investment Management Inc. Has $32.35 Million Stock Holdings in McGrath RentCorp $MGRC

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in McGrath RentCorp by 1.1%, holding 290,364 shares valued at approximately $32.3 million after selling 3,135 shares in the first quarter.
• McGrath RentCorp's latest earnings report showed $1.46 earnings per share (EPS), exceeding the consensus estimate of $1.30, along with a revenue of $235.62 million, which was significantly above analysts' expectations.
• The company announced a quarterly dividend of $0.485 per share, resulting in an annualized dividend yield of 1.6% and a payout ratio of 18.89%.

Charles Schwab Investment Management Inc. reduced its stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,364 shares of the financial services provider's stock after selling 3,135 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.18% of McGrath RentCorp worth $32,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGRC. Canada Pension Plan Investment Board bought a new stake in McGrath RentCorp during the 4th quarter worth about $89,000. Focus Partners Wealth bought a new stake in McGrath RentCorp during the 4th quarter worth about $136,000. State of Wyoming bought a new stake in McGrath RentCorp during the 4th quarter worth about $159,000. Teza Capital Management LLC acquired a new position in McGrath RentCorp in the 4th quarter valued at about $213,000. Finally, Nisa Investment Advisors LLC grew its stake in McGrath RentCorp by 9.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,093 shares of the financial services provider's stock valued at $233,000 after buying an additional 174 shares during the last quarter. 92.05% of the stock is owned by institutional investors.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, CEO Joseph F. Hanna sold 14,577 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $126.55, for a total transaction of $1,844,719.35. Following the transaction, the chief executive officer owned 153,637 shares in the company, valued at $19,442,762.35. This represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Trease Kristina Van sold 2,221 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $114.21, for a total transaction of $253,660.41. Following the transaction, the insider owned 6,694 shares in the company, valued at approximately $764,521.74. The trade was a 24.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,519 shares of company stock worth $2,645,800. 1.40% of the stock is currently owned by company insiders.

McGrath RentCorp Stock Performance

MGRC traded up $6.22 on Friday, reaching $124.02. The company had a trading volume of 109,477 shares, compared to its average volume of 136,323. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $129.93. The stock has a market cap of $3.05 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.28 and a beta of 0.66. The company's fifty day moving average is $118.58 and its 200 day moving average is $115.16.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.16. McGrath RentCorp had a net margin of 26.81% and a return on equity of 13.52%. The business had revenue of $235.62 million for the quarter, compared to analyst estimates of $220.71 million. During the same quarter in the prior year, the business earned $0.84 EPS. McGrath RentCorp's quarterly revenue was up 10.8% on a year-over-year basis. McGrath RentCorp has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, July 17th. McGrath RentCorp's dividend payout ratio is presently 18.89%.

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.