Vanguard Personalized Indexing Management LLC Buys Shares of 1,733 McGrath RentCorp $MGRC

Vanguard Personalized Indexing Management LLC bought a new stake in McGrath RentCorp (NASDAQ:MGRC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,733 shares of the financial services provider’s stock, valued at approximately $201,000.

Other hedge funds have also recently made changes to their positions in the company. Strs Ohio bought a new stake in shares of McGrath RentCorp in the first quarter valued at $56,000. Adirondack Trust Co. raised its stake in shares of McGrath RentCorp by 20.0% in the second quarter. Adirondack Trust Co. now owns 600 shares of the financial services provider’s stock valued at $70,000 after buying an additional 100 shares during the period. Focus Partners Wealth raised its stake in shares of McGrath RentCorp by 68.6% in the first quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider’s stock valued at $228,000 after buying an additional 832 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of McGrath RentCorp by 9.1% in the first quarter. Nisa Investment Advisors LLC now owns 2,093 shares of the financial services provider’s stock valued at $233,000 after buying an additional 174 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of McGrath RentCorp by 8.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,621 shares of the financial services provider’s stock valued at $292,000 after buying an additional 209 shares during the period. 92.05% of the stock is currently owned by institutional investors.

Insider Transactions at McGrath RentCorp

In other news, CEO Joseph F. Hanna sold 14,577 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $126.55, for a total value of $1,844,719.35. Following the completion of the transaction, the chief executive officer directly owned 153,637 shares in the company, valued at approximately $19,442,762.35. This represents a 8.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimberly Ann Box sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $118.50, for a total value of $177,750.00. Following the completion of the transaction, the director owned 7,000 shares of the company’s stock, valued at $829,500. The trade was a 17.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

McGrath RentCorp Stock Down 4.9%

McGrath RentCorp stock opened at $114.50 on Friday. McGrath RentCorp has a 52 week low of $97.81 and a 52 week high of $129.93. The business has a 50-day simple moving average of $120.10 and a 200 day simple moving average of $116.32. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.18 and a beta of 0.56.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $1.72 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.11). McGrath RentCorp had a return on equity of 12.75% and a net margin of 15.62%.The business had revenue of $256.44 million for the quarter, compared to analysts’ expectations of $266.62 million. During the same quarter in the previous year, the firm earned $1.87 earnings per share. McGrath RentCorp’s quarterly revenue was down 3.9% compared to the same quarter last year. McGrath RentCorp has set its FY 2025 guidance at EPS. On average, research analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, October 17th. McGrath RentCorp’s dividend payout ratio is presently 32.83%.

Analyst Ratings Changes

Several brokerages have issued reports on MGRC. Weiss Ratings restated a “buy (b-)” rating on shares of McGrath RentCorp in a research note on Tuesday, October 14th. Oppenheimer boosted their price objective on McGrath RentCorp from $139.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $147.50.

McGrath RentCorp Company 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.