58,536 Shares in McGrath RentCorp $MGRC Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC bought a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 58,536 shares of the financial services provider’s stock, valued at approximately $6,866,000. Ashton Thomas Private Wealth LLC owned about 0.24% of McGrath RentCorp at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Peterson Wealth Services raised its position in shares of McGrath RentCorp by 6,091.0% during the 3rd quarter. Peterson Wealth Services now owns 21,359 shares of the financial services provider’s stock valued at $2,505,000 after buying an additional 21,014 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of McGrath RentCorp during the 3rd quarter valued at about $1,246,000. Principal Financial Group Inc. lifted its position in McGrath RentCorp by 8.7% in the 3rd quarter. Principal Financial Group Inc. now owns 13,887 shares of the financial services provider’s stock worth $1,629,000 after buying an additional 1,110 shares during the last quarter. Keybank National Association OH boosted its stake in McGrath RentCorp by 14.1% in the third quarter. Keybank National Association OH now owns 5,050 shares of the financial services provider’s stock worth $592,000 after buying an additional 625 shares in the last quarter. Finally, Arizona State Retirement System grew its position in McGrath RentCorp by 1.7% during the third quarter. Arizona State Retirement System now owns 7,270 shares of the financial services provider’s stock valued at $853,000 after acquiring an additional 119 shares during the last quarter. Institutional investors own 92.05% of the company’s stock.

Insider Buying and Selling

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 value of $88,943.41. Following the completion of the sale, the senior vice president owned 4,068 shares in the company, valued at approximately $436,455.72. This trade represents a 16.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MGRC shares. Weiss Ratings restated a “hold (c+)” rating on shares of McGrath RentCorp in a report on Tuesday, January 27th. Zacks Research upgraded shares of McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, McGrath RentCorp has a consensus rating of “Hold” and an average price target of $143.00.

McGrath RentCorp Stock Up 3.6%

NASDAQ:MGRC opened at $120.86 on Thursday. The firm has a market capitalization of $2.97 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.14 and a beta of 0.51. The company has a fifty day moving average of $108.53 and a 200 day moving average of $113.52. McGrath RentCorp has a 52 week low of $94.99 and a 52 week high of $129.93.

McGrath RentCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, January 16th. McGrath RentCorp’s payout ratio is currently 32.83%.

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.