Anchor Capital Management Company LLC Has $12.73 Million Stake in McGrath RentCorp $MGRC

Anchor Capital Management Company LLC grew its stake in shares of McGrath RentCorp (NASDAQ:MGRC) by 28.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,500 shares of the financial services provider’s stock after buying an additional 24,000 shares during the quarter. McGrath RentCorp accounts for approximately 11.0% of Anchor Capital Management Company LLC’s portfolio, making the stock its 6th largest holding. Anchor Capital Management Company LLC owned about 0.44% of McGrath RentCorp worth $12,727,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new stake in McGrath RentCorp during the 3rd quarter valued at about $29,000. Cullen Frost Bankers Inc. purchased a new position in McGrath RentCorp in the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its stake in McGrath RentCorp by 767.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 238 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in McGrath RentCorp in the second quarter valued at approximately $57,000. Finally, Strs Ohio bought a new stake in McGrath RentCorp in the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Insider Buying and Selling at McGrath RentCorp

In related news, SVP Gilda Malek sold 829 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $107.29, for a total transaction of $88,943.41. Following the completion of the transaction, the senior vice president owned 4,068 shares of the company’s stock, valued at $436,455.72. This trade represents a 16.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MGRC shares. Barclays assumed coverage on shares of McGrath RentCorp in a report on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of McGrath RentCorp in a research report on Tuesday, January 27th. Finally, Zacks Research upgraded shares of McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 15th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, McGrath RentCorp presently has an average rating of “Moderate Buy” and an average target price of $141.50.

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $103.59 on Friday. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $128.41. The stock has a market cap of $2.55 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 1.03 and a beta of 0.50. The firm has a 50-day moving average of $112.16 and a 200 day moving average of $111.99.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.28. McGrath RentCorp had a net margin of 16.55% and a return on equity of 13.21%. The business had revenue of $256.76 million for the quarter, compared to analysts’ expectations of $254.32 million. Research analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, April 16th. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.49. McGrath RentCorp’s dividend payout ratio (DPR) is currently 30.55%.

McGrath RentCorp 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.