McGrath RentCorp $MGRC Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 906,954 shares of the financial services provider's stock after acquiring an additional 47,451 shares during the period. Dimensional Fund Advisors LP owned 3.69% of McGrath RentCorp worth $100,019,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its position in McGrath RentCorp by 690,151.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 296,808 shares of the financial services provider's stock worth $31,144,000 after purchasing an additional 296,765 shares during the last quarter. Channing Capital Management LLC raised its stake in McGrath RentCorp by 39.1% during the fourth quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider's stock worth $87,815,000 after purchasing an additional 235,311 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of McGrath RentCorp by 752.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 237,506 shares of the financial services provider's stock valued at $24,922,000 after purchasing an additional 209,646 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of McGrath RentCorp by 102.8% in the 3rd quarter. Raymond James Financial Inc. now owns 303,205 shares of the financial services provider's stock valued at $35,566,000 after purchasing an additional 153,701 shares during the last quarter. Finally, Tredje AP fonden acquired a new position in shares of McGrath RentCorp in the 4th quarter valued at $12,246,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Trease Kristina Van sold 3,783 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $113.65, for a total value of $429,937.95. Following the sale, the insider directly owned 6,533 shares in the company, valued at $742,475.45. The trade was a 36.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John Lieffrig sold 500 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $125.00, for a total transaction of $62,500.00. Following the sale, the vice president owned 23,551 shares of the company's stock, valued at $2,943,875. The trade was a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 30,051 shares of company stock worth $3,486,240. Company insiders own 1.40% of the company's stock.

McGrath RentCorp Stock Down 2.5%

Shares of MGRC stock opened at $117.00 on Thursday. The stock has a 50-day simple moving average of $115.46 and a 200 day simple moving average of $113.36. The stock has a market capitalization of $2.87 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.22 and a beta of 0.43. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $128.33.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings results 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 return on equity of 12.84% and a net margin of 16.38%.The business had revenue of $221.11 million during the quarter, compared to the consensus estimate of $236.51 million. On average, sell-side analysts anticipate that McGrath RentCorp will post 6.35 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.98 annualized dividend and a dividend yield of 1.7%. McGrath RentCorp's payout ratio is currently 31.43%.

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 research report on Tuesday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, McGrath RentCorp presently has an average rating of "Moderate Buy" and a consensus price target of $141.50.

McGrath RentCorp Profile

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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