McGrath RentCorp $MGRC Shares Purchased by Denali Advisors LLC

Key Points

• Denali Advisors increased its McGrath RentCorp stake by 82.7% in the second quarter, owning 48,418 shares valued at approximately $5.86 million. Institutional investors collectively hold 92.05% of the company.
• McGrath RentCorp’s latest quarterly results fell short of expectations, with earnings of $1.37 per share versus a $1.47 estimate and revenue of $221.11 million versus $236.51 million expected.
• Analysts maintain a “Moderate Buy” consensus with a $141.50 target price, while insiders have sold 25,408 shares worth about $3.01 million over the past 90 days. The company also declared a quarterly dividend of $0.495 per share, representing a 1.7% yield.

Denali Advisors LLC increased its holdings in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 82.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,418 shares of the financial services provider's stock after acquiring an additional 21,918 shares during the quarter. Denali Advisors LLC owned approximately 0.20% of McGrath RentCorp worth $5,860,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MGRC. American Century Companies Inc. grew its holdings in shares of McGrath RentCorp by 0.7% during 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 purchasing an additional 85 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of 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 during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of 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 worth $204,000 after purchasing an additional 126 shares during the last quarter. Osaic Holdings Inc. boosted its position in McGrath RentCorp by 1.0% during 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 boosted its position in 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 valued at $7,004,000 after purchasing an additional 175 shares during the period. Institutional investors own 92.05% of the company's stock.

Insider Buying and Selling

In related news, VP John P. Skenesky sold 2,000 shares of McGrath RentCorp stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $120.41, for a total transaction of $240,820.00. Following the sale, the vice president directly owned 10,634 shares in the company, valued at $1,280,439.94. The trade was a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David M. Whitney sold 3,783 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total transaction of $429,937.95. Following the completion of the sale, the chief accounting officer directly owned 6,533 shares of the company's stock, valued at $742,475.45. The trade was a 36.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 25,408 shares of company stock valued at $3,014,686. Company insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

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

McGrath RentCorp Trading Down 0.5%

Shares of NASDAQ:MGRC opened at $118.33 on Thursday. The firm's 50 day moving average is $118.41 and its two-hundred day moving average is $114.19. McGrath RentCorp has a 52 week low of $94.99 and a 52 week high of $127.68. The firm has a market capitalization of $2.89 billion, a P/E ratio of 19.05, a PEG ratio of 1.20 and a beta of 0.44.

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

McGrath RentCorp Dividend Announcement

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

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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