Gamco Investors INC. ET AL Has $3.99 Million Holdings in McGrath RentCorp $MGRC

Gamco Investors INC. ET AL decreased its holdings in shares of McGrath RentCorp (NASDAQ:MGRC) by 17.1% in the 3rd quarter, Holdings Channel reports. The fund owned 34,000 shares of the financial services provider’s stock after selling 7,000 shares during the period. Gamco Investors INC. ET AL’s holdings in McGrath RentCorp were worth $3,988,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. River Road Asset Management LLC grew its holdings in shares of McGrath RentCorp by 4.0% during the 2nd quarter. River Road Asset Management LLC now owns 1,970,974 shares of the financial services provider’s stock valued at $245,958,000 after purchasing an additional 76,265 shares during the last quarter. Franklin Resources Inc. lifted its stake in McGrath RentCorp by 0.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,074,800 shares of the financial services provider’s stock valued at $124,634,000 after purchasing an additional 8,609 shares during the last quarter. Eminence Capital LP boosted its position in McGrath RentCorp by 6.5% in the second quarter. Eminence Capital LP now owns 895,042 shares of the financial services provider’s stock valued at $103,789,000 after buying an additional 54,971 shares in the last quarter. Victory Capital Management Inc. boosted its position in McGrath RentCorp by 3.4% in the third quarter. Victory Capital Management Inc. now owns 893,629 shares of the financial services provider’s stock valued at $104,823,000 after buying an additional 29,644 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of McGrath RentCorp by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 839,851 shares of the financial services provider’s stock worth $98,513,000 after buying an additional 6,589 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

McGrath RentCorp Trading Down 2.3%

Shares of McGrath RentCorp stock opened at $105.34 on Tuesday. The business has a 50-day moving average price of $112.25 and a two-hundred day moving average price of $112.45. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $128.41. The company has a market cap of $2.59 billion, a P/E ratio of 16.59, a PEG ratio of 1.07 and a beta of 0.50.

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

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 1.9%. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, April 16th. McGrath RentCorp’s payout ratio is presently 30.55%.

Insider Activity

In other McGrath RentCorp news, SVP Gilda Malek sold 829 shares of the 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 transaction, the senior vice president directly owned 4,068 shares in the company, valued at approximately $436,455.72. This represents a 16.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

About McGrath RentCorp

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.