Hantz Financial Services Inc. Reduces Stake in McGrath RentCorp $MGRC

Hantz Financial Services Inc. reduced its stake in McGrath RentCorp (NASDAQ:MGRC) by 74.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,076 shares of the financial services provider’s stock after selling 8,749 shares during the quarter. Hantz Financial Services Inc.’s holdings in McGrath RentCorp were worth $323,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Eminence Capital LP grew its holdings in McGrath RentCorp by 5.6% in the 3rd quarter. Eminence Capital LP now owns 944,972 shares of the financial services provider’s stock valued at $110,845,000 after buying an additional 49,930 shares in the last quarter. Victory Capital Management Inc. grew its holdings in McGrath RentCorp by 3.4% in the 3rd 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. Dimensional Fund Advisors LP grew its holdings in McGrath RentCorp by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 839,851 shares of the financial services provider’s stock valued at $98,513,000 after buying an additional 6,589 shares in the last quarter. Channing Capital Management LLC grew its holdings in McGrath RentCorp by 19.8% in the 3rd quarter. Channing Capital Management LLC now owns 601,583 shares of the financial services provider’s stock valued at $70,566,000 after buying an additional 99,626 shares in the last quarter. Finally, State Street Corp grew its holdings in McGrath RentCorp by 3.6% in the 2nd quarter. State Street Corp now owns 597,972 shares of the financial services provider’s stock valued at $69,341,000 after buying an additional 20,609 shares in the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MGRC has been the subject of several analyst reports. 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. Weiss Ratings cut McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $141.50.

McGrath RentCorp Trading Down 2.1%

NASDAQ MGRC opened at $108.99 on Friday. The stock has a market cap of $2.68 billion, a PE ratio of 17.30, a P/E/G ratio of 1.13 and a beta of 0.45. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $128.41. The stock has a fifty day simple moving average of $112.08 and a 200-day simple moving average of $109.71.

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

Insider Transactions at McGrath RentCorp

In other news, insider Trease Kristina Van sold 539 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $115.00, for a total transaction of $61,985.00. Following the completion of the transaction, the insider directly owned 10,316 shares in the company, valued at approximately $1,186,340. This represents a 4.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph F. Hanna sold 9,470 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $112.49, for a total value of $1,065,280.30. Following the transaction, the director owned 159,579 shares of the company’s stock, valued at approximately $17,951,041.71. This represents a 5.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 11,078 shares of company stock worth $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.