SG Americas Securities LLC Buys 9,340 Shares of McGrath RentCorp $MGRC

Key Points

• SG Americas Securities LLC increased its McGrath RentCorp stake by 29.8% in the first quarter, buying 9,340 additional shares and bringing its total holdings to 40,648 shares valued at about $4.48 million.
• McGrath RentCorp’s stock has drawn mixed Wall Street views: Weiss Ratings cut the name from hold (C+) to hold (C), while the broader analyst consensus remains Moderate Buy with an average price target of $141.50.
• The company recently reported quarterly EPS of $1.10, slightly below estimates, and announced a quarterly dividend of $0.495 per share payable July 31, implying a 1.6% annualized yield.

SG Americas Securities LLC grew its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,648 shares of the financial services provider's stock after buying an additional 9,340 shares during the quarter. SG Americas Securities LLC owned 0.17% of McGrath RentCorp worth $4,483,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. River Road Asset Management LLC increased its holdings in shares of 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 buying an additional 64,566 shares during the period. Comerica Bank boosted its holdings in McGrath RentCorp by 96.8% during the 4th quarter. Comerica Bank now owns 58,374 shares of the financial services provider's stock valued at $6,125,000 after acquiring an additional 28,719 shares during the period. Gabelli Funds LLC lifted its position in McGrath RentCorp by 28.8% in the fourth quarter. Gabelli Funds LLC now owns 49,243 shares of the financial services provider's stock valued at $5,167,000 after purchasing an additional 11,011 shares during the last quarter. Eminence Capital LP grew its holdings in shares of McGrath RentCorp by 5.6% in the third quarter. Eminence Capital LP now owns 944,972 shares of the financial services provider's stock worth $110,845,000 after purchasing an additional 49,930 shares during the last quarter. Finally, Tributary Capital Management LLC purchased a new position in shares of McGrath RentCorp in the fourth quarter worth $9,063,000. 92.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of McGrath RentCorp from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $141.50.

McGrath RentCorp Price Performance

NASDAQ MGRC opened at $121.55 on Tuesday. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $128.41. The stock has a market capitalization of $2.99 billion, a PE ratio of 19.29, a PEG ratio of 1.25 and a beta of 0.44. The business's 50-day moving average is $113.78 and its 200 day moving average is $111.74.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.03). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. The business had revenue of $198.54 million for the quarter, compared to the consensus estimate of $198.19 million. As a group, equities research analysts anticipate that McGrath RentCorp will post 6.35 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.98 annualized dividend and a dividend yield of 1.6%. McGrath RentCorp's payout ratio is 31.43%.

Insiders Place Their Bets

In related news, VP John Lieffrig sold 500 shares of the business's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $125.00, for a total transaction of $62,500.00. Following the transaction, the vice president owned 23,551 shares in the company, valued at $2,943,875. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Trease Kristina Van sold 3,783 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total transaction of $429,937.95. Following the completion of the sale, the insider owned 6,533 shares of the company's stock, valued at $742,475.45. This trade represents a 36.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,551 shares of company stock valued at $2,581,440 over the last quarter. 1.40% of the stock is owned by company 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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