McGrath RentCorp $MGRC Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its stake in McGrath RentCorp by 55.7%, holding 5,760 shares valued at approximately $642,000 following additional purchases in the first quarter.
• CEO Joseph F. Hanna sold 14,577 shares for over $1.8 million, reducing his ownership stake by 8.67%, while insiders collectively sold shares worth $2.6 million in the last quarter.
• McGrath RentCorp reported quarterly earnings of $1.46 per share, surpassing analysts' expectations, and declared a quarterly dividend of $0.485 with an annual yield of 1.6%.

AlphaQuest LLC boosted its stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 55.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,760 shares of the financial services provider's stock after buying an additional 2,060 shares during the period. AlphaQuest LLC's holdings in McGrath RentCorp were worth $642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Focus Partners Wealth purchased a new stake in McGrath RentCorp in the 4th quarter valued at about $136,000. State of Wyoming purchased a new stake in McGrath RentCorp during the fourth quarter worth about $159,000. Teza Capital Management LLC purchased a new stake in McGrath RentCorp during the fourth quarter worth about $213,000. Nisa Investment Advisors LLC increased its stake in McGrath RentCorp by 9.1% during the first 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 during the period. Finally, Forum Financial Management LP increased its stake in McGrath RentCorp by 11.2% during the fourth quarter. Forum Financial Management LP now owns 2,142 shares of the financial services provider's stock worth $240,000 after purchasing an additional 216 shares during the period. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

McGrath RentCorp Stock Down 2.5%

NASDAQ:MGRC traded down $3.08 on Friday, reaching $121.49. 102,176 shares of the company's stock were exchanged, compared to its average volume of 111,144. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.25 and a beta of 0.61. The business has a fifty day moving average of $119.62 and a 200-day moving average of $115.17. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly 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 company had revenue of $235.62 million for the quarter, compared to analyst estimates of $220.71 million. McGrath RentCorp had a net margin of 26.81% and a return on equity of 13.52%. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. McGrath RentCorp has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Announces Dividend

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

Insider Buying and Selling at McGrath RentCorp

In related 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 transaction of $253,660.41. Following the sale, the insider directly owned 6,694 shares in the company, valued at approximately $764,521.74. This represents a 24.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph F. Hanna sold 14,577 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 153,637 shares in the company, valued at $19,442,762.35. The trade was a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,519 shares of company stock valued at $2,645,800 over the last three months. 1.40% of the stock is currently owned by company insiders.

McGrath RentCorp 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.