Schroder Investment Management Group Cuts Stock Position in McGrath RentCorp $MGRC

Schroder Investment Management Group decreased its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,043 shares of the financial services provider’s stock after selling 10,472 shares during the period. Schroder Investment Management Group’s holdings in McGrath RentCorp were worth $25,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in McGrath RentCorp in the 3rd quarter valued at about $29,000. Cullen Frost Bankers Inc. purchased a new stake in McGrath RentCorp during the third quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its position in shares of McGrath RentCorp by 767.7% during the second 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 in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of McGrath RentCorp during the second quarter worth about $57,000. Finally, Strs Ohio purchased a new position in shares of McGrath RentCorp in the first quarter valued at approximately $56,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MGRC shares. Barclays initiated coverage on shares of McGrath RentCorp in a report on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of McGrath RentCorp in a report on Tuesday, January 27th. Finally, Zacks Research raised shares of McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

McGrath RentCorp Stock Performance

Shares of MGRC opened at $104.00 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 capitalization of $2.56 billion, a PE ratio of 16.38, a PEG ratio of 1.04 and a beta of 0.50. The stock has a 50-day simple moving average of $112.19 and a 200-day simple moving average of $112.20.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results 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. The firm had revenue of $256.76 million for the quarter, compared to analyst estimates of $254.32 million. McGrath RentCorp had a net margin of 16.55% and a return on equity of 13.21%. Analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

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

Insider Activity at McGrath RentCorp

In other McGrath RentCorp news, SVP Gilda Malek sold 829 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $107.29, for a total value of $88,943.41. Following the sale, the senior vice president directly owned 4,068 shares of the company’s stock, valued at approximately $436,455.72. This represents a 16.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate 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.