UBS Group AG Sells 67,059 Shares of McGrath RentCorp $MGRC

Key Points

• UBS Group AG cut its McGrath RentCorp stake by 65% in the fourth quarter, selling 67,059 shares and leaving it with 36,049 shares valued at about $3.78 million.
• McGrath RentCorp reported quarterly earnings of $1.10 per share, missing analyst estimates by $0.03, while revenue came in roughly in line at $198.54 million.
• The company raised its quarterly dividend slightly to $0.495 per share, and analysts currently maintain a Moderate Buy consensus with an average price target of $141.50.

UBS Group AG lowered its stake in shares of McGrath RentCorp (NASDAQ:MGRC - Free Report) by 65.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,049 shares of the financial services provider's stock after selling 67,059 shares during the period. UBS Group AG owned 0.15% of McGrath RentCorp worth $3,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. raised its position in shares of McGrath RentCorp by 0.7% during the second quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider's stock valued at $1,422,000 after buying an additional 85 shares during the last quarter. Diversified Trust Co. raised its position in shares of McGrath RentCorp by 4.6% during the fourth quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider's stock valued at $245,000 after buying an additional 103 shares during the last quarter. Arizona State Retirement System raised its position in shares of McGrath RentCorp by 1.7% during the third quarter. Arizona State Retirement System now owns 7,270 shares of the financial services provider's stock valued at $853,000 after buying an additional 119 shares during the last quarter. California State Teachers Retirement System raised its position in shares of McGrath RentCorp by 0.5% during the second quarter. California State Teachers Retirement System now owns 22,696 shares of the financial services provider's stock valued at $2,632,000 after buying an additional 119 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of McGrath RentCorp by 8.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 1,874 shares of the financial services provider's stock valued at $220,000 after buying an additional 141 shares during the last quarter. Institutional investors own 92.05% of the company's stock.

McGrath RentCorp Stock Performance

Shares of MGRC opened at $110.08 on Friday. The company's fifty day moving average is $111.47 and its 200 day moving average is $109.57. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $128.41. The stock has a market capitalization of $2.70 billion, a PE ratio of 17.47, a P/E/G ratio of 1.12 and a beta of 0.45.

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

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were given a $0.495 dividend. This is a boost from McGrath RentCorp's previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, April 16th. McGrath RentCorp's dividend payout ratio (DPR) is presently 31.43%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MGRC shares. Barclays started coverage on shares of McGrath RentCorp in a research report on Wednesday, February 11th. They set an "overweight" rating and a $140.00 price objective on the stock. Weiss Ratings cut shares of McGrath RentCorp from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $141.50.

Insider Buying and Selling

In related news, insider Trease Kristina Van sold 539 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $115.00, for a total value of $61,985.00. Following the sale, the insider owned 10,316 shares in the company, valued at approximately $1,186,340. The trade was a 4.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph F. Hanna sold 530 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $112.00, for a total transaction of $59,360.00. Following the completion of the sale, the director owned 159,049 shares in the company, valued at $17,813,488. This represents a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 11,078 shares of company stock worth $1,248,610. Insiders own 1.40% of the company's stock.

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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