One Wealth Advisors LLC Sells 2,652 Shares of McGrath RentCorp $MGRC

Key Points

• One Wealth Advisors LLC has reduced its holdings in McGrath RentCorp by 12.7%, selling 2,652 shares during the second quarter, leaving them with approximately 0.07% of the company's stock valued at $2.1 million.
• McGrath RentCorp reported earnings of $1.46 EPS for the last quarter, exceeding analysts' estimates and showing a year-over-year revenue increase of 10.8%.
• The company announced a quarterly dividend of $0.485, with a yield of 1.7%, set to be paid on October 31st to shareholders of record on October 17th.

One Wealth Advisors LLC cut its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 12.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,176 shares of the financial services provider's stock after selling 2,652 shares during the quarter. One Wealth Advisors LLC owned about 0.07% of McGrath RentCorp worth $2,108,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of McGrath RentCorp during the first quarter worth $56,000. Adirondack Trust Co. raised its stake in McGrath RentCorp by 20.0% in the 2nd quarter. Adirondack Trust Co. now owns 600 shares of the financial services provider's stock worth $70,000 after purchasing an additional 100 shares in the last quarter. Focus Partners Wealth raised its stake in McGrath RentCorp by 68.6% in the 1st 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 in the last quarter. Nisa Investment Advisors LLC boosted its holdings in 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 purchasing an additional 174 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of McGrath RentCorp by 19.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,412 shares of the financial services provider's stock worth $270,000 after purchasing an additional 388 shares in the last quarter. Institutional investors own 92.05% of the company's stock.

McGrath RentCorp Stock Performance

McGrath RentCorp stock opened at $116.88 on Tuesday. McGrath RentCorp has a 52 week low of $97.81 and a 52 week high of $129.93. The stock has a market capitalization of $2.88 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.22 and a beta of 0.61. The stock has a fifty day moving average of $121.44 and a 200-day moving average of $115.61.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.16. The firm had revenue of $235.62 million for the quarter, compared to analysts' expectations of $220.71 million. McGrath RentCorp had a return on equity of 13.52% and a net margin of 26.81%.The business's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. McGrath RentCorp has set its FY 2025 guidance at EPS. On average, research analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $1.94 annualized dividend and a yield of 1.7%. McGrath RentCorp's dividend payout ratio is presently 18.89%.

Wall Street Analyst Weigh In

Separately, Oppenheimer lifted their price target on shares of McGrath RentCorp from $139.00 to $143.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $147.50.

Insider Buying and Selling

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

McGrath RentCorp Profile

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.

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