Arcadia Investment Management Corp MI Has $1.68 Million Stock Position in McGrath RentCorp $MGRC

Arcadia Investment Management Corp MI raised its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 57.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,997 shares of the financial services provider’s stock after buying an additional 5,845 shares during the period. Arcadia Investment Management Corp MI’s holdings in McGrath RentCorp were worth $1,679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in 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 worth $1,422,000 after purchasing an additional 85 shares during the last quarter. Diversified Trust Co. raised its holdings in McGrath RentCorp by 4.6% during the fourth quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 103 shares in the last quarter. Arizona State Retirement System raised its holdings in 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 worth $853,000 after acquiring an additional 119 shares in the last quarter. California State Teachers Retirement System boosted its position in 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 purchasing an additional 119 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in 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 purchasing an additional 141 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

McGrath RentCorp Stock Performance

MGRC opened at $108.99 on Monday. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $128.41. The stock’s fifty day simple moving average is $112.08 and its 200 day simple moving average is $109.75. The stock has a market cap of $2.68 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 1.11 and a beta of 0.44.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MGRC shares. Weiss Ratings downgraded McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Barclays started coverage on McGrath RentCorp in a report on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 price objective for the company. Two 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

Insiders Place Their Bets

In other McGrath RentCorp news, insider Trease Kristina Van sold 539 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $115.00, for a total transaction of $61,985.00. Following the transaction, the insider owned 10,316 shares in the company, valued at $1,186,340. This trade represents a 4.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David M. Whitney sold 539 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $115.00, for a total value of $61,985.00. Following the transaction, the chief accounting officer owned 10,316 shares in the company, valued at $1,186,340. The trade was a 4.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,078 shares of company stock worth $1,248,610 in the last 90 days. Company 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.