McGrath RentCorp $MGRC Stock Position Raised by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. increased its stake in McGrath RentCorp by 234.8% in Q1, acquiring an additional 5,934 shares to reach a total of 8,461 shares valued at approximately $943,000.
• Wall Street analysts upgraded McGrath RentCorp's rating from "hold" to "buy", indicating positive expectations for the company's performance.
• The company reported earnings of $1.46 per share for the last quarter, exceeding estimates, with year-over-year revenue growth of 10.8%.

Fox Run Management L.L.C. boosted its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 234.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,461 shares of the financial services provider's stock after purchasing an additional 5,934 shares during the period. Fox Run Management L.L.C.'s holdings in McGrath RentCorp were worth $943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MGRC. Canada Pension Plan Investment Board acquired a new stake in shares of McGrath RentCorp during the 4th quarter valued at about $89,000. Focus Partners Wealth acquired a new stake in McGrath RentCorp in the 4th quarter worth about $136,000. State of Wyoming purchased a new position in McGrath RentCorp in the 4th quarter worth approximately $159,000. Teza Capital Management LLC purchased a new position in McGrath RentCorp in the 4th quarter worth approximately $213,000. Finally, Nisa Investment Advisors LLC lifted 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 worth $233,000 after purchasing an additional 174 shares in the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McGrath RentCorp

In other news, insider Trease Kristina Van sold 2,221 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $114.21, for a total value of $253,660.41. Following the completion of the sale, the insider directly owned 6,694 shares of the company's stock, valued at approximately $764,521.74. This represents a 24.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO David M. Whitney sold 2,221 shares of the company's 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 completion of the sale, the chief accounting officer directly owned 6,694 shares of the company's stock, valued at approximately $764,521.74. This represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,519 shares of company stock valued at $2,645,800. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $145.50.

McGrath RentCorp Trading Down 0.2%

NASDAQ:MGRC traded down $0.20 on Thursday, reaching $118.23. The stock had a trading volume of 13,368 shares, compared to its average volume of 143,173. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $129.93. The stock has a market cap of $2.91 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.25 and a beta of 0.66. The company has a 50-day moving average of $118.33 and a 200 day moving average of $115.23.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.16. The business had revenue of $235.62 million for 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 earnings per share. McGrath RentCorp has set its FY 2025 guidance at EPS. On average, equities analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, July 17th. McGrath RentCorp's dividend payout ratio is currently 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.