Dimensional Fund Advisors LP Has $100.02 Million Stake in McGrath RentCorp $MGRC

Dimensional Fund Advisors LP lifted its position in McGrath RentCorp (NASDAQ:MGRC) by 5.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 906,954 shares of the financial services provider’s stock after buying an additional 47,451 shares during the quarter. Dimensional Fund Advisors LP’s holdings in McGrath RentCorp were worth $100,019,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position 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 valued at $31,000 after acquiring an additional 238 shares in the last quarter. Danske Bank A S bought a new stake in McGrath RentCorp in the third quarter worth approximately $47,000. Strs Ohio acquired a new position in shares of McGrath RentCorp during the 1st quarter worth $56,000. Covestor Ltd increased its stake in shares of McGrath RentCorp by 52.0% during the 4th quarter. Covestor Ltd now owns 1,385 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 474 shares during the last quarter. Finally, Palouse Capital Management Inc. bought a new position in shares of McGrath RentCorp during the 4th quarter valued at $152,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Activity at McGrath RentCorp

In other news, Director Joseph F. Hanna sold 9,470 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $112.49, for a total value of $1,065,280.30. Following the sale, the director owned 159,579 shares in the company, valued at approximately $17,951,041.71. This trade represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John Lieffrig sold 2,000 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the transaction, the vice president directly owned 24,051 shares in the company, valued at $3,006,375. This trade represents a 7.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 30,051 shares of company stock valued at $3,486,240. 1.40% of the stock is owned by corporate insiders.

McGrath RentCorp Stock Performance

Shares of NASDAQ:MGRC opened at $117.00 on Thursday. The stock’s 50-day moving average is $115.46 and its 200-day moving average is $113.36. The company has a market cap of $2.87 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.22 and a beta of 0.43. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $128.33.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.10). McGrath RentCorp had a return on equity of 12.84% and a net margin of 16.38%.The business had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. As a group, equities analysts predict that McGrath RentCorp will post 6.35 EPS for the current year.

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, July 17th. McGrath RentCorp’s payout ratio is currently 31.43%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, McGrath RentCorp currently has an average rating of “Moderate Buy” and a consensus price target of $141.50.

McGrath RentCorp 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.