McGrath RentCorp $MGRC Shares Acquired by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. increased its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 125.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,713 shares of the financial services provider’s stock after purchasing an additional 4,291 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in McGrath RentCorp were worth $851,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC raised its holdings in shares of McGrath RentCorp by 4.4% during the first quarter. Inspire Investing LLC now owns 4,652 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 198 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of McGrath RentCorp by 13.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,075 shares of the financial services provider’s stock valued at $449,000 after buying an additional 476 shares during the period. SG Americas Securities LLC boosted its holdings in shares of McGrath RentCorp by 29.8% in the 1st quarter. SG Americas Securities LLC now owns 40,648 shares of the financial services provider’s stock valued at $4,483,000 after buying an additional 9,340 shares during the period. Diversified Trust Co boosted its holdings in shares of McGrath RentCorp by 16.0% in the 1st quarter. Diversified Trust Co now owns 2,705 shares of the financial services provider’s stock valued at $298,000 after buying an additional 373 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of McGrath RentCorp during the 4th quarter valued at about $267,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Activity

In other McGrath RentCorp news, SVP Gilda Malek sold 1,407 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were 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 in the company, valued at approximately $914,372.72. This trade represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Lieffrig sold 2,000 shares of McGrath RentCorp stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the sale, the vice president directly owned 24,051 shares in the company, valued at approximately $3,006,375. This trade represents a 7.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,051 shares of company stock worth $3,486,240 over the last three months. Insiders own 1.40% of the company’s stock.

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $117.91 on Friday. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $128.41. The business’s fifty day moving average price is $114.32 and its two-hundred day moving average price is $112.03. The firm has a market capitalization of $2.90 billion, a PE ratio of 18.72, a P/E/G ratio of 1.20 and a beta of 0.43.

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

McGrath RentCorp Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, July 17th. This represents a $1.98 annualized dividend and a yield of 1.7%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 31.43%.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, McGrath RentCorp has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

McGrath RentCorp Company 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.