Ranger Investment Management L.P. Acquires New Shares in McGrath RentCorp $MGRC

Key Points

• Ranger Investment Management acquired 39,415 McGrath RentCorp shares worth approximately $4.77 million, giving it a 0.16% stake. Institutional investors collectively own 92.05% of the company.
• McGrath RentCorp reported quarterly EPS of $1.37 and revenue of $221.11 million, both below analyst expectations of $1.47 and $236.51 million, respectively.
• The company paid a quarterly dividend of $0.495 per share, equivalent to a $1.98 annualized payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with a $141.50 target price, while insiders sold 25,408 shares over the past three months.

Ranger Investment Management L.P. purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 39,415 shares of the financial services provider's stock, valued at approximately $4,770,000. Ranger Investment Management L.P. owned 0.16% of McGrath RentCorp at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in shares of McGrath RentCorp by 767.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 238 shares during the period. Danske Bank A S bought a new position in shares of McGrath RentCorp during the 3rd quarter valued at approximately $47,000. Strs Ohio purchased a new position in shares of McGrath RentCorp in the 1st quarter worth $56,000. Covestor Ltd raised its position in McGrath RentCorp by 52.0% during the fourth quarter. Covestor Ltd now owns 1,385 shares of the financial services provider's stock valued at $145,000 after purchasing an additional 474 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in McGrath RentCorp by 6.9% during the 4th quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider's stock valued at $204,000 after buying an additional 126 shares during the period. 92.05% of the stock is currently owned by institutional investors.

McGrath RentCorp Stock Performance

Shares of NASDAQ:MGRC opened at $116.65 on Monday. McGrath RentCorp has a one year low of $94.99 and a one year high of $127.68. The firm has a market cap of $2.85 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The firm's 50 day simple moving average is $118.47 and its 200-day simple moving average is $114.23.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $236.51 million. McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%. Equities research analysts predict that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Transactions at McGrath RentCorp

In other McGrath RentCorp news, CEO Philip B. Hawkins sold 4,435 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $120.91, for a total transaction of $536,235.85. Following the transaction, the chief executive officer owned 13,371 shares of the company's stock, valued at approximately $1,616,687.61. This trade represents a 24.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Gilda Malek sold 1,407 shares of the business's stock in a transaction dated 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 sale, the senior vice president owned 8,018 shares of the company's stock, valued at approximately $914,372.72. This represents a 14.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,408 shares of company stock valued at $3,014,686 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

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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