Susquehanna International Group LLP Buys 63,537 Shares of McGrath RentCorp $MGRC

Key Points

• Susquehanna International Group increased its McGrath RentCorp stake by 73% in the second quarter, purchasing 63,537 shares to own 150,537 shares valued at approximately $18.2 million. Institutional investors and hedge funds collectively own 92.05% of the company.
• Analysts maintain a “Moderate Buy” consensus with a $141.50 average price target, although McGrath RentCorp’s latest quarterly results missed expectations: EPS was $1.37 versus $1.47 forecast, while revenue was $221.11 million versus $236.51 million expected.
• McGrath RentCorp paid a quarterly dividend of $0.495 per share, equivalent to a $1.98 annualized dividend and a 1.8% yield. Meanwhile, insiders sold 25,408 shares worth roughly $3.0 million over the past 90 days.

Susquehanna International Group LLP raised its stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 73.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,537 shares of the financial services provider's stock after acquiring an additional 63,537 shares during the quarter. Susquehanna International Group LLP owned about 0.62% of McGrath RentCorp worth $18,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of McGrath RentCorp by 767.7% in the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in McGrath RentCorp in the 2nd quarter valued at $45,000. Danske Bank A S acquired a new stake in shares of McGrath RentCorp in the 3rd quarter valued at $47,000. Strs Ohio bought a new stake in shares of McGrath RentCorp during the first quarter worth $56,000. Finally, Covestor Ltd lifted its stake in shares of 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 acquiring an additional 474 shares during the period. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded McGrath RentCorp from a "hold (c)" rating to a "hold (c+)" rating in a research report 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.50.

Insider Buying and Selling

In related news, Director Joseph F. Hanna sold 7,500 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 151,549 shares in the company, valued at approximately $18,282,871.36. The trade was a 4.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John P. Skenesky sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $120.41, for a total value of $240,820.00. Following the sale, the vice president directly owned 10,634 shares of the company's stock, valued at approximately $1,280,439.94. The trade was a 15.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 25,408 shares of company stock valued at $3,014,686. 1.40% of the stock is owned by company insiders.

McGrath RentCorp Stock Performance

Shares of NASDAQ:MGRC opened at $112.28 on Monday. The company has a 50 day moving average price of $118.33 and a two-hundred day moving average price of $114.07. The company has a market capitalization of $2.74 billion, a PE ratio of 18.08, a PEG ratio of 1.14 and a beta of 0.44. McGrath RentCorp has a 52 week low of $94.99 and a 52 week high of $127.68.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings results 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). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. The firm had revenue of $221.11 million during the quarter, compared to analyst estimates of $236.51 million. On average, sell-side analysts forecast that McGrath RentCorp will post 6.37 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were paid a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, July 17th. McGrath RentCorp's payout ratio is presently 31.88%.

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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