Headlands Technologies LLC Takes Position in McGrath RentCorp $MGRC

Headlands Technologies LLC purchased a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 7,512 shares of the financial services provider’s stock, valued at approximately $909,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGRC. EverSource Wealth Advisors LLC lifted its holdings in McGrath RentCorp by 767.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after buying an additional 238 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in McGrath RentCorp in the 2nd quarter valued at about $45,000. Danske Bank A S acquired a new stake in shares of McGrath RentCorp during the third quarter valued at about $47,000. Strs Ohio acquired a new stake in shares of McGrath RentCorp during the first quarter valued at about $56,000. Finally, Covestor Ltd increased its position in shares of McGrath RentCorp by 52.0% during the fourth 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. Hedge funds and other institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Trading Down 1.4%

Shares of NASDAQ:MGRC opened at $110.84 on Wednesday. The company has a fifty day simple moving average of $118.04 and a 200 day simple moving average of $114.02. The firm has a market cap of $2.71 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.14 and a beta of 0.44. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $127.68.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.10). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. The company had revenue of $221.11 million during the quarter, compared to analyst estimates of $236.51 million. As a group, equities research analysts forecast that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Joseph F. Hanna sold 7,500 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $120.64, for a total value of $904,800.00. Following the sale, the director owned 151,549 shares in the company, valued at approximately $18,282,871.36. This represents a 4.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Lieffrig sold 500 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $125.00, for a total transaction of $62,500.00. Following the transaction, the vice president directly owned 23,551 shares in the company, valued at $2,943,875. The trade was a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 25,408 shares of company stock worth $3,014,686. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.50.

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.