Anchor Capital Management Company LLC Buys 36,359 Shares of McGrath RentCorp $MGRC

Anchor Capital Management Company LLC raised its stake in McGrath RentCorp (NASDAQ:MGRC) by 33.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,859 shares of the financial services provider’s stock after buying an additional 36,359 shares during the quarter. McGrath RentCorp accounts for about 13.5% of Anchor Capital Management Company LLC’s portfolio, making the stock its 5th largest position. Anchor Capital Management Company LLC’s holdings in McGrath RentCorp were worth $15,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Eminence Capital LP grew its stake in McGrath RentCorp by 5.6% in the third quarter. Eminence Capital LP now owns 944,972 shares of the financial services provider’s stock valued at $110,845,000 after acquiring an additional 49,930 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of McGrath RentCorp by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 900,181 shares of the financial services provider’s stock valued at $94,456,000 after purchasing an additional 6,552 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of McGrath RentCorp by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 859,503 shares of the financial services provider’s stock valued at $90,190,000 after purchasing an additional 19,652 shares in the last quarter. Channing Capital Management LLC lifted its holdings in shares of McGrath RentCorp by 39.1% during the 4th quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider’s stock valued at $87,815,000 after purchasing an additional 235,311 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of McGrath RentCorp by 3.6% during the 2nd quarter. State Street Corp now owns 597,972 shares of the financial services provider’s stock valued at $69,341,000 after purchasing an additional 20,609 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Transactions at McGrath RentCorp

In related news, SVP Gilda Malek sold 1,407 shares of McGrath RentCorp stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $114.04, for a total value of $160,454.28. Following the sale, the senior vice president owned 8,018 shares of the company’s stock, valued at approximately $914,372.72. This trade represents a 14.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David M. Whitney sold 3,783 shares of McGrath RentCorp stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $113.65, for a total value of $429,937.95. Following the completion of the sale, the chief accounting officer directly owned 6,533 shares in the company, valued at approximately $742,475.45. This represents a 36.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,051 shares of company stock worth $2,268,940 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

McGrath RentCorp Price Performance

NASDAQ:MGRC opened at $114.08 on Wednesday. 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 $2.80 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.44. The business’s 50-day simple moving average is $112.61 and its 200-day simple moving average is $110.67.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data 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 net margin of 16.38% and a return on equity of 12.84%. The business had revenue of $198.54 million for the quarter, compared to the consensus estimate of $198.19 million. On average, research analysts expect that McGrath RentCorp will post 6.35 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is currently 31.43%.

About McGrath RentCorp

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.