UBS Group AG Reduces Holdings in McGrath RentCorp $MGRC

UBS Group AG trimmed its position in shares of McGrath RentCorp (NASDAQ:MGRC) by 65.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,049 shares of the financial services provider’s stock after selling 67,059 shares during the quarter. UBS Group AG’s holdings in McGrath RentCorp were worth $3,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in McGrath RentCorp during the third quarter worth $29,000. Cullen Frost Bankers Inc. purchased a new position in McGrath RentCorp during the third quarter worth $30,000. EverSource Wealth Advisors LLC boosted its stake in 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 buying an additional 238 shares during the period. Danske Bank A S purchased a new position in McGrath RentCorp during the third quarter worth $47,000. Finally, Strs Ohio purchased a new position in McGrath RentCorp during the first quarter worth $56,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

McGrath RentCorp Trading Up 0.4%

Shares of MGRC opened at $110.08 on Friday. The firm has a market capitalization of $2.70 billion, a P/E ratio of 17.47, a P/E/G ratio of 1.12 and a beta of 0.45. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $128.41. The firm has a fifty day moving average price of $111.47 and a 200-day moving average price of $109.57.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.03). The company had revenue of $198.54 million for the quarter, compared to analysts’ expectations of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. Analysts predict that McGrath RentCorp will post 6.35 earnings per share for the current year.

McGrath RentCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th were paid a dividend of $0.495 per share. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.49. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, April 16th. McGrath RentCorp’s payout ratio is presently 31.43%.

Analyst Upgrades and Downgrades

Several research firms have commented on MGRC. Barclays began coverage on shares of McGrath RentCorp in a research note on Wednesday, February 11th. They set an “overweight” rating and a $140.00 price objective for the company. Weiss Ratings lowered shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McGrath RentCorp currently has an average rating of “Moderate Buy” and an average price target of $141.50.

Insider Activity

In other news, insider Trease Kristina Van sold 539 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $115.00, for a total transaction of $61,985.00. Following the completion of the sale, the insider directly owned 10,316 shares of the company’s stock, valued at approximately $1,186,340. The trade was a 4.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David M. Whitney sold 539 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $115.00, for a total transaction of $61,985.00. Following the sale, the chief accounting officer directly owned 10,316 shares of the company’s stock, valued at $1,186,340. This represents a 4.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 11,078 shares of company stock valued at $1,248,610. 1.40% of the stock is currently owned by company insiders.

McGrath RentCorp Company 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.