McGrath RentCorp $MGRC Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its McGrath RentCorp stake by 49.6% in the first quarter, selling 11,512 shares and retaining 11,710 shares valued at $1.29 million. Institutional investors still own 92.05% of MGRC.
• McGrath RentCorp’s latest quarterly results fell short of expectations, with EPS of $1.37 versus $1.47 expected and revenue of $221.11 million versus a $236.51 million consensus estimate.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $141.50, while the company paid a quarterly dividend of $0.495, equivalent to a 1.7% annualized yield.

First Trust Advisors LP trimmed its position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 49.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,710 shares of the financial services provider's stock after selling 11,512 shares during the period. First Trust Advisors LP's holdings in McGrath RentCorp were worth $1,291,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MGRC. River Road Asset Management LLC lifted its stake in McGrath RentCorp by 3.1% in the fourth quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider's stock worth $223,619,000 after acquiring an additional 64,566 shares during the last quarter. Eminence Capital LP increased its position in shares of McGrath RentCorp by 0.5% in the 4th quarter. Eminence Capital LP now owns 949,673 shares of the financial services provider's stock valued at $99,649,000 after purchasing an additional 4,701 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of McGrath RentCorp by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 906,954 shares of the financial services provider's stock valued at $100,019,000 after purchasing an additional 47,451 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of McGrath RentCorp by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 900,181 shares of the financial services provider's stock valued at $94,456,000 after purchasing an additional 6,552 shares in the last quarter. Finally, Channing Capital Management LLC raised its holdings in shares of McGrath RentCorp by 39.1% in the 4th quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider's stock valued at $87,815,000 after purchasing an additional 235,311 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company's stock.

Insider Transactions at McGrath RentCorp

In other McGrath RentCorp news, insider Trease Kristina Van sold 3,783 shares of McGrath RentCorp stock in a transaction 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 transaction, the insider directly owned 6,533 shares in the company, valued at approximately $742,475.45. The trade was a 36.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Gilda Malek sold 1,407 shares of McGrath RentCorp stock in a transaction on Monday, June 15th. The shares were sold at an average price of $114.04, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,051 shares of company stock worth $2,361,600 over the last 90 days. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

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

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $119.75 on Monday. The stock has a market cap of $2.93 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.21 and a beta of 0.44. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $127.68. The business has a 50-day moving average price of $116.64 and a 200 day moving average price of $113.80.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released 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). The firm had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%. Sell-side analysts anticipate that McGrath RentCorp will post 6.37 earnings per share for the current year.

McGrath RentCorp Announces Dividend

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

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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