McGrath RentCorp $MGRC Stock Position Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 112.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,953 shares of the financial services provider’s stock after purchasing an additional 23,817 shares during the period. Envestnet Asset Management Inc. owned 0.18% of McGrath RentCorp worth $5,273,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Loomis Sayles & Co. L P grew its holdings in shares of McGrath RentCorp by 282.1% during the second quarter. Loomis Sayles & Co. L P now owns 328,609 shares of the financial services provider’s stock valued at $38,106,000 after buying an additional 242,598 shares in the last quarter. Ameriprise Financial Inc. boosted its position in McGrath RentCorp by 1,139.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 116,890 shares of the financial services provider’s stock worth $13,555,000 after acquiring an additional 107,462 shares during the period. Marshall Wace LLP lifted its position in shares of McGrath RentCorp by 134.8% in the second quarter. Marshall Wace LLP now owns 153,335 shares of the financial services provider’s stock worth $17,781,000 after purchasing an additional 88,039 shares in the last quarter. River Road Asset Management LLC lifted its position in shares of McGrath RentCorp by 4.0% in the second quarter. River Road Asset Management LLC now owns 1,970,974 shares of the financial services provider’s stock worth $245,958,000 after purchasing an additional 76,265 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of McGrath RentCorp during the third quarter worth approximately $6,866,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

McGrath RentCorp Trading Down 1.0%

Shares of NASDAQ:MGRC opened at $112.77 on Monday. The stock has a market capitalization of $2.78 billion, a PE ratio of 19.08, a P/E/G ratio of 1.10 and a beta of 0.51. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $129.93. The firm has a fifty day moving average price of $111.49 and a 200 day moving average price of $113.11.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were paid 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 of this dividend was Friday, January 16th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 32.83%.

Insiders Place Their Bets

In other McGrath RentCorp news, SVP Gilda Malek sold 829 shares of the company’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 sale, the senior vice president owned 4,068 shares of the company’s stock, valued at $436,455.72. This represents a 16.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

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.