SG Americas Securities LLC Raises Position in McGrath RentCorp $MGRC

Key Points

• SG Americas Securities raised its stake in McGrath RentCorp by 240.3% in Q4 to 31,308 shares (about $3.29M), and institutional investors now own roughly 92.05% of the company.
• McGrath beat Q4 expectations with EPS of $2.02 vs. $1.74 and revenue of $256.8M vs. $254.3M, reporting a 13.21% return on equity and a 16.55% net margin.
• The board increased the quarterly dividend to $0.495 (annualized $1.98, yield 1.8%), and analysts rate the stock a consensus "Moderate Buy" with a $141.50 target.

SG Americas Securities LLC lifted its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 240.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,308 shares of the financial services provider's stock after buying an additional 22,108 shares during the period. SG Americas Securities LLC owned about 0.13% of McGrath RentCorp worth $3,285,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in McGrath RentCorp in the 3rd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of McGrath RentCorp in the 3rd quarter worth $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of McGrath RentCorp by 767.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider's stock worth $31,000 after purchasing an additional 238 shares in the last quarter. Danske Bank A S purchased a new position in shares of McGrath RentCorp in the third quarter worth $47,000. Finally, Strs Ohio bought a new position in shares of McGrath RentCorp during the first quarter valued at $56,000. Institutional investors own 92.05% of the company's stock.

McGrath RentCorp Price Performance

MGRC stock opened at $107.53 on Friday. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $128.41. The company has a market cap of $2.65 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The stock's fifty day moving average price is $111.70 and its 200-day moving average price is $110.59.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.28. McGrath RentCorp had a return on equity of 13.21% and a net margin of 16.55%.The company had revenue of $256.76 million during the quarter, compared to analysts' expectations of $254.32 million. As a group, analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, April 16th. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.49. McGrath RentCorp's payout ratio is currently 30.55%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Zacks Research upgraded McGrath RentCorp from a "strong sell" rating to a "hold" rating in a report on Thursday, January 15th. Barclays began coverage on shares of McGrath RentCorp in a report on Wednesday, February 11th. They set an "overweight" rating and a $140.00 price target on the stock. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of McGrath RentCorp in a research note on Tuesday, January 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $141.50.

McGrath RentCorp 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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