OMERS ADMINISTRATION Corp Invests $668,000 in McGrath RentCorp $MGRC

Key Points

• OMERS ADMINISTRATION Corp has acquired a new position in McGrath RentCorp, purchasing 6,000 shares valued at approximately $668,000.
• McGrath RentCorp reported better-than-expected earnings of $1.46 per share for the last quarter, surpassing analysts' estimates of $1.30, with revenue of $235.62 million.
• Insider selling activity included CEO Joseph F. Hanna selling 14,577 shares for approximately $1.84 million, resulting in a decrease of 8.67% in his ownership percentage.

OMERS ADMINISTRATION Corp acquired a new stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,000 shares of the financial services provider's stock, valued at approximately $668,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Hsbc Holdings PLC raised its stake in McGrath RentCorp by 3.9% during the first quarter. Hsbc Holdings PLC now owns 4,117 shares of the financial services provider's stock worth $460,000 after purchasing an additional 153 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of McGrath RentCorp by 9.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,093 shares of the financial services provider's stock valued at $233,000 after acquiring an additional 174 shares during the period. Hamilton Point Investment Advisors LLC raised its stake in shares of McGrath RentCorp by 0.4% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 54,314 shares of the financial services provider's stock valued at $6,051,000 after acquiring an additional 192 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of McGrath RentCorp by 8.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,621 shares of the financial services provider's stock valued at $292,000 after acquiring an additional 209 shares during the period. Finally, Forum Financial Management LP raised its stake in shares of McGrath RentCorp by 11.2% in the 4th quarter. Forum Financial Management LP now owns 2,142 shares of the financial services provider's stock valued at $240,000 after acquiring an additional 216 shares during the period. Hedge funds and other institutional investors own 92.05% of the company's stock.

McGrath RentCorp Price Performance

MGRC traded up $0.06 during trading hours on Friday, reaching $125.68. 139,155 shares of the stock traded hands, compared to its average volume of 111,343. The firm's fifty day simple moving average is $120.39 and its two-hundred day simple moving average is $115.33. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.30 and a beta of 0.61. McGrath RentCorp has a fifty-two week low of $95.50 and a fifty-two week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.16. The business had revenue of $235.62 million during 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 was up 10.8% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. McGrath RentCorp has set its FY 2025 guidance at EPS. On average, research analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current year.

Insiders Place Their Bets

In other McGrath RentCorp news, CEO Joseph F. Hanna sold 14,577 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $126.55, for a total transaction of $1,844,719.35. Following the completion of the transaction, the chief executive officer directly owned 153,637 shares of the company's stock, valued at $19,442,762.35. This trade represents a 8.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly Ann Box sold 1,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $118.50, for a total transaction of $177,750.00. Following the transaction, the director directly owned 7,000 shares of the company's stock, valued at approximately $829,500. This represents a 17.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

About McGrath RentCorp

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.