Hantz Financial Services Inc. Sells 9,763 Shares of McGrath RentCorp $MGRC

Hantz Financial Services Inc. lessened its stake in shares of McGrath RentCorp (NASDAQ:MGRC) by 45.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,825 shares of the financial services provider’s stock after selling 9,763 shares during the quarter. Hantz Financial Services Inc.’s holdings in McGrath RentCorp were worth $1,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MGRC. American Century Companies Inc. grew its position in McGrath RentCorp by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 85 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of McGrath RentCorp by 0.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 18,688 shares of the financial services provider’s stock worth $2,167,000 after acquiring an additional 88 shares during the last quarter. Cim LLC lifted its position in McGrath RentCorp by 2.2% in the 2nd quarter. Cim LLC now owns 4,556 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 99 shares in the last quarter. Summit Global Investments boosted its stake in McGrath RentCorp by 2.3% during the 2nd quarter. Summit Global Investments now owns 4,971 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 114 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in McGrath RentCorp by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 22,696 shares of the financial services provider’s stock worth $2,632,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, SVP Gilda Malek sold 829 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $436,455.72. The trade was a 16.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

McGrath RentCorp Stock Down 0.6%

Shares of NASDAQ:MGRC opened at $119.43 on Friday. The firm has a market capitalization of $2.94 billion, a PE ratio of 20.21, a P/E/G ratio of 1.17 and a beta of 0.51. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $129.93. The company has a 50-day moving average price of $109.18 and a two-hundred day moving average price of $113.61.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $1.94 annualized dividend and a yield of 1.6%. McGrath RentCorp’s dividend 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.