17,024 Shares in McGrath RentCorp $MGRC Acquired by One Wealth Advisors LLC

One Wealth Advisors LLC acquired a new position in McGrath RentCorp (NASDAQ:MGRC) in the 2nd quarter, Holdings Channel reports. The firm acquired 17,024 shares of the financial services provider’s stock, valued at approximately $2,060,000. McGrath RentCorp comprises 0.2% of One Wealth Advisors LLC’s investment portfolio, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MGRC. River Road Asset Management LLC raised its position in McGrath RentCorp by 3.1% in the fourth quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock valued at $223,619,000 after purchasing an additional 64,566 shares during the period. Eminence Capital LP increased its position in shares of McGrath RentCorp by 0.5% during the 4th quarter. Eminence Capital LP now owns 949,673 shares of the financial services provider’s stock worth $99,649,000 after purchasing an additional 4,701 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of McGrath RentCorp by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 906,954 shares of the financial services provider’s stock worth $100,019,000 after purchasing an additional 47,451 shares during the last quarter. Victory Capital Management Inc. raised its holdings in McGrath RentCorp by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 900,181 shares of the financial services provider’s stock valued at $94,456,000 after buying an additional 6,552 shares during the period. Finally, Channing Capital Management LLC raised its holdings in McGrath RentCorp by 39.1% in the 4th quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider’s stock valued at $87,815,000 after buying an additional 235,311 shares during the period. Institutional investors and hedge funds own 92.05% of the company’s stock.

McGrath RentCorp Stock Performance

McGrath RentCorp stock opened at $122.28 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 50 day moving average price of $117.94 and a 200 day moving average price of $114.08. The company has a market capitalization of $2.99 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.44.

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

McGrath RentCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, July 17th. McGrath RentCorp’s payout ratio is currently 31.88%.

Insider Transactions at McGrath RentCorp

In related news, 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 owned 23,551 shares of the company’s stock, valued at approximately $2,943,875. This represents a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip B. Hawkins sold 4,435 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $120.91, for a total value of $536,235.85. Following the transaction, the chief executive officer owned 13,371 shares of the company’s stock, valued at $1,616,687.61. This trade represents a 24.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 25,408 shares of company stock worth $3,014,686. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.