Deutsche Bank AG Acquires New Shares in McGrath RentCorp $MGRC

Deutsche Bank AG bought a new position in McGrath RentCorp (NASDAQ:MGRC) in the second quarter, HoldingsChannel reports. The fund bought 26,901 shares of the financial services provider’s stock, valued at approximately $3,256,000.

Several other large investors have also recently bought and sold shares of MGRC. EverSource Wealth Advisors LLC increased its stake in shares of McGrath RentCorp by 767.7% in the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after buying an additional 238 shares during the period. Danske Bank A S acquired a new stake in McGrath RentCorp during the 3rd quarter worth approximately $47,000. Strs Ohio bought a new stake in McGrath RentCorp during the 1st quarter worth approximately $56,000. Covestor Ltd grew its holdings in 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 acquiring an additional 474 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new position in McGrath RentCorp in the 3rd quarter valued at approximately $204,000. 92.05% of the stock is currently owned by institutional investors.

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, July 28th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.50.

McGrath RentCorp Stock Performance

Shares of NASDAQ MGRC opened at $114.15 on Thursday. The company’s 50 day moving average price is $118.54 and its 200-day moving average price is $114.15. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $127.68. The company has a market capitalization of $2.79 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.16 and a beta of 0.44.

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 12.44% and a net margin of 16.38%.The firm had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. Analysts forecast that McGrath RentCorp will post 6.37 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 31.88%.

Insider Transactions at McGrath RentCorp

In other news, CAO David M. Whitney sold 3,783 shares of McGrath RentCorp stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total value of $429,937.95. Following the completion of the transaction, the chief accounting officer directly owned 6,533 shares of the company’s stock, valued at approximately $742,475.45. This trade represents a 36.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Trease Kristina Van sold 3,783 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $113.65, for a total value of $429,937.95. Following the completion of the transaction, the insider directly owned 6,533 shares in the company, valued at $742,475.45. This represents a 36.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 25,408 shares of company stock worth $3,014,686. Corporate insiders own 1.40% of the company’s stock.

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.