McGrath RentCorp $MGRC Stock Holdings Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 11.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,880 shares of the financial services provider’s stock after selling 1,134 shares during the period. Russell Investments Group Ltd.’s holdings in McGrath RentCorp were worth $989,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MGRC. Hsbc Holdings PLC grew its position in shares of McGrath RentCorp by 6.6% during the fourth quarter. Hsbc Holdings PLC now owns 3,964 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 245 shares during the last quarter. Susquehanna International Group LLP grew its position in shares of McGrath RentCorp by 4,821.3% during the fourth quarter. Susquehanna International Group LLP now owns 47,048 shares of the financial services provider’s stock worth $5,261,000 after acquiring an additional 46,092 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of McGrath RentCorp by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 162,605 shares of the financial services provider’s stock worth $18,184,000 after acquiring an additional 1,763 shares during the last quarter. Northern Trust Corp grew its position in shares of McGrath RentCorp by 8.7% during the fourth quarter. Northern Trust Corp now owns 323,439 shares of the financial services provider’s stock worth $36,167,000 after acquiring an additional 25,884 shares during the last quarter. Finally, Comerica Bank grew its position in shares of McGrath RentCorp by 56.2% during the fourth quarter. Comerica Bank now owns 5,377 shares of the financial services provider’s stock worth $601,000 after acquiring an additional 1,934 shares during the last quarter. Institutional investors own 92.05% of the company’s stock.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, Director Kimberly Ann Box sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $118.50, for a total value of $177,750.00. Following the completion of the sale, the director directly owned 7,000 shares of the company’s stock, valued at approximately $829,500. This represents a 17.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph F. Hanna sold 14,577 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 153,637 shares of the company’s stock, valued at $19,442,762.35. This trade represents a 8.67% decrease in their ownership of the stock. 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 90 days. Insiders own 1.40% of the company’s stock.

McGrath RentCorp Stock Down 0.4%

Shares of MGRC opened at $124.57 on Friday. The firm has a 50-day moving average price of $119.42 and a 200 day moving average price of $115.25. The firm has a market capitalization of $3.07 billion, a PE ratio of 12.13, a P/E/G ratio of 1.29 and a beta of 0.66. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.16. McGrath RentCorp had a net margin of 26.81% and a return on equity of 13.52%. The firm had revenue of $235.62 million during the quarter, compared to analyst estimates of $220.71 million. During the same quarter in the prior year, the firm posted $0.84 EPS. McGrath RentCorp’s revenue was up 10.8% compared to the same quarter last year. 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 year.

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, July 17th. McGrath RentCorp’s dividend payout ratio is presently 18.89%.

McGrath RentCorp 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.