Deutsche Bank AG Purchases New Shares in McGrath RentCorp $MGRC

Key Points

• Deutsche Bank acquired 26,901 McGrath RentCorp shares worth approximately $3.26 million, giving it a 0.11% stake. Institutional investors and hedge funds collectively own 92.05% of the company.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $141.50, although McGrath RentCorp’s latest quarterly results missed expectations on both earnings and revenue.
• The company pays a quarterly dividend of $0.495 per share, equivalent to a 1.7% yield, while insiders have sold 25,408 shares worth about $3.01 million over the past three months.

Deutsche Bank AG acquired a new stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,901 shares of the financial services provider's stock, valued at approximately $3,256,000. Deutsche Bank AG owned approximately 0.11% of McGrath RentCorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its stake in shares of 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 acquiring an additional 85 shares in the last quarter. California State Teachers Retirement System raised its stake in 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 worth $2,632,000 after purchasing an additional 119 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in McGrath RentCorp by 6.9% in the 4th quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider's stock valued at $204,000 after purchasing an additional 126 shares during the period. Osaic Holdings Inc. boosted its holdings in McGrath RentCorp by 1.0% in the 4th quarter. Osaic Holdings Inc. now owns 15,596 shares of the financial services provider's stock valued at $1,636,000 after purchasing an additional 149 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of McGrath RentCorp by 0.3% during the 4th 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 purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company's stock.

Wall Street Analysts Forecast Growth

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

McGrath RentCorp Trading Down 0.5%

NASDAQ MGRC opened at $114.15 on Thursday. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.16 and a beta of 0.44. The firm's 50 day simple moving average is $118.54 and its 200 day simple moving average is $114.15. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $127.68.

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

McGrath RentCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.7%. McGrath RentCorp's payout ratio is 31.88%.

Insider Activity at McGrath RentCorp

In other McGrath RentCorp news, Director Joseph F. Hanna sold 7,500 shares of McGrath RentCorp stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $120.64, for a total value of $904,800.00. Following the transaction, the director owned 151,549 shares in the company, valued at $18,282,871.36. The trade was a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip B. Hawkins sold 4,435 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $120.91, for a total transaction of $536,235.85. Following the completion of the transaction, the chief executive officer directly owned 13,371 shares of the company's stock, valued at $1,616,687.61. This trade represents a 24.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 25,408 shares of company stock worth $3,014,686 in the last three months. Insiders own 1.40% of the company's stock.

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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