Quantbot Technologies LP Invests $752,000 in McGrath RentCorp $MGRC

Quantbot Technologies LP purchased a new stake in McGrath RentCorp (NASDAQ:MGRC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,217 shares of the financial services provider’s stock, valued at approximately $752,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MGRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in McGrath RentCorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 639 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in McGrath RentCorp by 5.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,256 shares of the financial services provider’s stock valued at $8,606,000 after buying an additional 3,967 shares during the period. Jane Street Group LLC boosted its stake in McGrath RentCorp by 2,213.6% during the first quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider’s stock valued at $6,477,000 after buying an additional 55,627 shares during the period. Focus Partners Wealth grew its position in McGrath RentCorp by 68.6% during the first quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider’s stock worth $228,000 after buying an additional 832 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in McGrath RentCorp by 24.8% during the first quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider’s stock worth $1,537,000 after buying an additional 2,745 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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 given a Hold rating to the stock. Based on data from MarketBeat.com, McGrath RentCorp currently has an average rating of “Moderate Buy” and a consensus price target of $141.50.

Insider Transactions at McGrath RentCorp

In other news, CAO David M. Whitney sold 3,783 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total transaction of $429,937.95. Following the transaction, the chief accounting officer directly owned 6,533 shares in the company, valued at approximately $742,475.45. This represents a 36.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Trease Kristina Van sold 3,783 shares of the 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 transaction, the insider owned 6,533 shares in the company, valued at $742,475.45. This trade represents a 36.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 25,408 shares of company stock worth $3,014,686. Company insiders own 1.40% of the company’s stock.

McGrath RentCorp Price Performance

MGRC stock opened at $114.15 on Thursday. The firm has a 50 day simple moving average of $118.54 and a two-hundred day simple moving average of $114.15. The stock has a market cap of $2.79 billion, a PE ratio of 18.38, a P/E/G ratio of 1.16 and a beta of 0.44. McGrath RentCorp has a one year low of $94.99 and a one year high of $127.68.

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 net margin of 16.38% and a return on equity of 12.44%. The company had revenue of $221.11 million for the quarter, compared to analysts’ expectations of $236.51 million. On average, research analysts expect that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

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

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.