Ranger Investment Management L.P. Purchases New Position in McGrath RentCorp $MGRC

Ranger Investment Management L.P. acquired a new position in shares of McGrath RentCorp (NASDAQ:MGRC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,320 shares of the financial services provider’s stock, valued at approximately $2,970,000.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. grew its holdings in McGrath RentCorp by 0.7% during the second 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 position in shares of McGrath RentCorp by 0.5% during the second quarter. Coldstream Capital Management Inc. now owns 18,688 shares of the financial services provider’s stock worth $2,167,000 after purchasing an additional 88 shares during the period. Cim LLC grew its position in shares of 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 purchasing an additional 99 shares during the period. Summit Global Investments increased 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 worth $576,000 after purchasing an additional 114 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in McGrath RentCorp by 0.5% in the second quarter. California State Teachers Retirement System now owns 22,696 shares of the financial services provider’s stock valued at $2,632,000 after buying an additional 119 shares in the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McGrath RentCorp

In related news, SVP Gilda Malek sold 829 shares of the business’s stock in a transaction 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 directly owned 4,068 shares in the company, valued at $436,455.72. The trade was a 16.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MGRC. Weiss Ratings restated a “hold (c+)” rating on shares of McGrath RentCorp in a report on Tuesday, January 27th. Zacks Research upgraded McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $143.00.

McGrath RentCorp Price Performance

Shares of MGRC opened at $121.28 on Friday. The firm has a market capitalization of $2.98 billion, a PE ratio of 20.34, a PEG ratio of 1.18 and a beta of 0.51. The company’s 50-day moving average is $108.86 and its 200-day moving average is $113.57. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $129.93.

McGrath RentCorp Announces Dividend

The company 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 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, January 16th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 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.