McGrath RentCorp $MGRC Shares Purchased by Anchor Capital Management Company LLC

Key Points

• Anchor Capital Management increased its stake in McGrath RentCorp by 33.5% in the fourth quarter, bringing its holdings to 144,859 shares worth about $15.2 million. The stock now makes up 13.5% of the firm’s portfolio.
• Several other institutional investors also boosted their positions, and 92.05% of McGrath RentCorp’s shares are currently owned by institutions and hedge funds. Meanwhile, insiders have sold 20,051 shares over the last 90 days.
• McGrath RentCorp recently reported Q1 EPS of $1.10, slightly below estimates, while revenue came in roughly in line with expectations. The company also declared a quarterly dividend of $0.495 per share, implying a 1.7% yield.

Anchor Capital Management Company LLC boosted its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 33.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,859 shares of the financial services provider's stock after acquiring an additional 36,359 shares during the quarter. McGrath RentCorp accounts for 13.5% of Anchor Capital Management Company LLC's portfolio, making the stock its 5th largest position. Anchor Capital Management Company LLC owned about 0.59% of McGrath RentCorp worth $15,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of MGRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in McGrath RentCorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider's stock worth $1,618,000 after acquiring an additional 639 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in McGrath RentCorp by 5.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,256 shares of the financial services provider's stock worth $8,606,000 after acquiring an additional 3,967 shares in the last quarter. Jane Street Group LLC raised its stake in McGrath RentCorp by 2,213.6% during the first quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider's stock worth $6,477,000 after acquiring an additional 55,627 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of McGrath RentCorp by 68.6% during the first quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider's stock worth $228,000 after purchasing an additional 832 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of McGrath RentCorp by 24.8% during the first quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider's stock worth $1,537,000 after purchasing an additional 2,745 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McGrath RentCorp

In related news, CAO David M. Whitney sold 3,783 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total value of $429,937.95. Following the transaction, the chief accounting officer owned 6,533 shares in the company, valued at $742,475.45. This trade represents a 36.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gilda Malek sold 1,407 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $114.04, for a total value of $160,454.28. Following the completion of the transaction, the senior vice president owned 8,018 shares in the company, valued at approximately $914,372.72. This represents a 14.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,051 shares of company stock worth $2,268,940 in the last ninety days. 1.40% of the stock is currently owned by insiders.

McGrath RentCorp Stock Performance

Shares of MGRC stock opened at $114.08 on Wednesday. The stock's fifty day moving average is $112.61 and its 200-day moving average is $110.67. The stock has a market capitalization of $2.80 billion, a PE ratio of 18.11, a PEG ratio of 1.16 and a beta of 0.44. McGrath RentCorp has a 52 week low of $94.99 and a 52 week high of $128.41.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.03). The firm had revenue of $198.54 million during the quarter, compared to the consensus estimate of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. As a group, analysts forecast that McGrath RentCorp will post 6.35 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $0.495 dividend. The ex-dividend date is Friday, July 17th. This represents a $1.98 annualized dividend and a yield of 1.7%. McGrath RentCorp's dividend payout ratio (DPR) is currently 31.43%.

Analyst Ratings Changes

Separately, Weiss Ratings cut McGrath RentCorp from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $141.50.

McGrath RentCorp Company 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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