Jupiter Topco LLC Takes $1.37 Million Position in McGrath RentCorp $MGRC

Jupiter Topco LLC bought a new position in McGrath RentCorp (NASDAQ:MGRC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,314 shares of the financial services provider’s stock, valued at approximately $1,369,000.

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in 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 acquiring an additional 238 shares during the last quarter. Danske Bank A S bought a new stake in shares of McGrath RentCorp in the third quarter valued at approximately $47,000. Strs Ohio acquired a new stake in McGrath RentCorp in the 1st quarter worth $56,000. Covestor Ltd lifted its position in shares of McGrath RentCorp by 52.0% in 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 period. Finally, Neuberger Berman Group LLC raised its stake in shares of McGrath RentCorp by 6.9% in the 4th quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider’s stock valued at $204,000 after buying an additional 126 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $111.59 on Friday. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $127.68. The firm has a market capitalization of $2.73 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.11 and a beta of 0.45. The company’s 50 day simple moving average is $117.29 and its 200 day simple moving average is $113.90.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%.The company had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. Sell-side analysts expect that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

Insider Activity

In other McGrath RentCorp news, insider Kristina Van Trease sold 3,783 shares of the company’s stock in a transaction that occurred on 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 sale, the insider owned 6,533 shares of the company’s stock, valued at approximately $742,475.45. This represents a 36.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Philip B. Hawkins sold 4,435 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $120.91, for a total transaction of $536,235.85. Following the completion of the sale, the chief executive officer owned 13,371 shares in the company, valued at approximately $1,616,687.61. This trade represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 25,408 shares of company stock valued at $3,014,686. 1.40% of the stock is currently owned by company insiders.

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.