One Wealth Advisors LLC Takes $2.06 Million Position in McGrath RentCorp $MGRC

Key Points

• One Wealth Advisors LLC initiated a $2.06 million position in McGrath RentCorp during the second quarter, while institutional investors collectively own 92.05% of the company.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $141.50, despite McGrath RentCorp missing second-quarter earnings and revenue estimates.
• MGRC shares opened at $122.28, up 1.5%, and the company recently paid a quarterly dividend of $0.495 per share, representing a 1.6% yield.

One Wealth Advisors LLC bought a new position in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,024 shares of the financial services provider's stock, valued at approximately $2,060,000. McGrath RentCorp makes up approximately 0.2% of One Wealth Advisors LLC's investment portfolio, making the stock its 28th largest position. One Wealth Advisors LLC owned about 0.07% of McGrath RentCorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of MGRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in McGrath RentCorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider's stock worth $1,618,000 after buying an additional 639 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of 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 valued at $8,606,000 after acquiring an additional 3,967 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of 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 valued at $6,477,000 after acquiring an additional 55,627 shares during the last quarter. Focus Partners Wealth lifted its position in shares of McGrath RentCorp by 68.6% in the first quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider's stock valued at $228,000 after acquiring an additional 832 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of McGrath RentCorp by 24.8% in the first quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider's stock valued at $1,537,000 after acquiring an additional 2,745 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company's stock.

Insiders Place Their Bets

In other McGrath RentCorp news, Director Joseph F. Hanna sold 7,500 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $120.64, for a total value of $904,800.00. Following the completion of the sale, the director directly owned 151,549 shares in the company, valued at $18,282,871.36. This represents a 4.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip B. Hawkins sold 4,435 shares of McGrath RentCorp stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $120.91, for a total value of $536,235.85. Following the transaction, the chief executive officer owned 13,371 shares in the company, valued at approximately $1,616,687.61. This represents a 24.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 25,408 shares of company stock valued at $3,014,686. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

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

McGrath RentCorp Trading Up 1.5%

NASDAQ:MGRC opened at $122.28 on Friday. The company's 50-day moving average price is $117.94 and its 200-day moving average price is $114.08. The company has a market cap of $2.99 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.24 and a beta of 0.44. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $127.68.

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

McGrath RentCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, July 17th. McGrath RentCorp's payout ratio is currently 31.88%.

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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