McGrath RentCorp $MGRC Stake Boosted by Anchor Capital Management Company LLC

Anchor Capital Management Company LLC lifted its stake in McGrath RentCorp (NASDAQ:MGRC) by 27.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,211 shares of the financial services provider’s stock after acquiring an additional 40,352 shares during the quarter. McGrath RentCorp makes up 22.0% of Anchor Capital Management Company LLC’s portfolio, making the stock its 2nd biggest holding. Anchor Capital Management Company LLC’s holdings in McGrath RentCorp were worth $20,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. River Road Asset Management LLC grew its position in McGrath RentCorp by 3.1% in the fourth quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock worth $223,619,000 after acquiring an additional 64,566 shares in the last quarter. Comerica Bank raised its holdings in shares of McGrath RentCorp by 96.8% during the 4th quarter. Comerica Bank now owns 58,374 shares of the financial services provider’s stock valued at $6,125,000 after purchasing an additional 28,719 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of McGrath RentCorp by 28.8% during the 4th quarter. Gabelli Funds LLC now owns 49,243 shares of the financial services provider’s stock valued at $5,167,000 after purchasing an additional 11,011 shares in the last quarter. Tributary Capital Management LLC bought a new position in shares of McGrath RentCorp during the 4th quarter valued at $9,063,000. Finally, SG Americas Securities LLC lifted its stake in shares of McGrath RentCorp by 240.3% in the 4th quarter. SG Americas Securities LLC now owns 31,308 shares of the financial services provider’s stock valued at $3,285,000 after purchasing an additional 22,108 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

McGrath RentCorp Price Performance

Shares of MGRC opened at $119.76 on Friday. The company has a market capitalization of $2.94 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.22 and a beta of 0.43. McGrath RentCorp has a one year low of $94.99 and a one year high of $128.41. The company’s fifty day moving average price is $114.97 and its 200 day moving average price is $113.08.

McGrath RentCorp (NASDAQ:MGRC) last issued 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 business had revenue of $198.54 million during 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%. Analysts anticipate that McGrath RentCorp will post 6.35 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

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

Insider Activity at McGrath RentCorp

In other news, VP John Lieffrig sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the sale, the vice president directly owned 24,051 shares of the company’s stock, valued at approximately $3,006,375. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph F. Hanna sold 9,470 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $112.49, for a total transaction of $1,065,280.30. Following the transaction, the director owned 159,579 shares of the company’s stock, valued at approximately $17,951,041.71. The trade was a 5.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 30,051 shares of company stock valued at $3,486,240. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, McGrath RentCorp has a consensus rating of “Moderate Buy” and an average 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.