Versor Investments LP Makes New Investment in McGrath RentCorp $MGRC

Key Points

• Versor Investments LP has acquired a stake in McGrath RentCorp by purchasing 3,996 shares, valued at approximately $445,000, during Q1 as reported in its latest 13F filing with the SEC.
• McGrath RentCorp reported an EPS of $1.46 for the last quarter, surpassing analysts' expectations and reflecting a 10.8% year-over-year revenue growth.
• The company recently declared a quarterly dividend of $0.485 per share, with an annualized yield of 1.6% and a dividend payout ratio of 18.89%.

Versor Investments LP purchased a new stake in McGrath RentCorp (NASDAQ:MGRC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,996 shares of the financial services provider's stock, valued at approximately $445,000.

Several other large investors have also modified their holdings of the business. Raymond James Financial Inc. grew its position in shares of McGrath RentCorp by 25.1% in the first quarter. Raymond James Financial Inc. now owns 147,448 shares of the financial services provider's stock valued at $16,425,000 after purchasing an additional 29,587 shares during the last quarter. Fox Run Management L.L.C. grew its position in shares of McGrath RentCorp by 234.8% in the first quarter. Fox Run Management L.L.C. now owns 8,461 shares of the financial services provider's stock valued at $943,000 after purchasing an additional 5,934 shares during the last quarter. Nuveen LLC acquired a new stake in shares of McGrath RentCorp in the first quarter valued at approximately $8,480,000. Virtu Financial LLC acquired a new stake in shares of McGrath RentCorp in the first quarter valued at approximately $531,000. Finally, Invesco Ltd. grew its position in shares of McGrath RentCorp by 10.3% in the first quarter. Invesco Ltd. now owns 38,601 shares of the financial services provider's stock valued at $4,300,000 after purchasing an additional 3,604 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other McGrath RentCorp news, CEO Joseph F. Hanna sold 14,577 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $126.55, for a total transaction of $1,844,719.35. Following the transaction, the chief executive officer owned 153,637 shares of the company's stock, valued at $19,442,762.35. This represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO David M. Whitney sold 2,221 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $114.21, for a total value of $253,660.41. Following the transaction, the chief accounting officer directly owned 6,694 shares in the company, valued at approximately $764,521.74. This represents a 24.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,519 shares of company stock valued at $2,645,800 over the last quarter. Insiders own 1.40% of the company's stock.

McGrath RentCorp Trading Up 5.3%

Shares of MGRC stock traded up $6.22 during trading hours on Friday, hitting $124.02. The company's stock had a trading volume of 109,477 shares, compared to its average volume of 136,323. The business has a fifty day moving average of $118.58 and a 200-day moving average of $115.16. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 1.28 and a beta of 0.66. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.30 by $0.16. The business had revenue of $235.62 million for the quarter, compared to analyst estimates of $220.71 million. McGrath RentCorp had a net margin of 26.81% and a return on equity of 13.52%. The company's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 earnings per share. McGrath RentCorp has set its FY 2025 guidance at EPS. On average, equities analysts expect that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 17th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, July 17th. This represents a $1.94 annualized dividend and a dividend yield of 1.6%. McGrath RentCorp's dividend payout ratio is presently 18.89%.

McGrath RentCorp Company Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.