25,320 Shares in McGrath RentCorp $MGRC Purchased by Ranger Investment Management L.P.

Ranger Investment Management L.P. bought a new stake in shares of McGrath RentCorp (NASDAQ:MGRC) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 25,320 shares of the financial services provider’s stock, valued at approximately $2,970,000. Ranger Investment Management L.P. owned 0.10% of McGrath RentCorp as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MGRC. Oliver Luxxe Assets LLC acquired a new position in shares of McGrath RentCorp during the third quarter valued at approximately $1,456,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of McGrath RentCorp in the 3rd quarter worth $6,866,000. Geode Capital Management LLC boosted its position in shares of McGrath RentCorp by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 610,231 shares of the financial services provider’s stock valued at $70,771,000 after purchasing an additional 11,784 shares in the last quarter. Ellsworth Advisors LLC purchased a new position in shares of McGrath RentCorp in the third quarter worth approximately $605,000. Finally, Segall Bryant & Hamill LLC grew its position in McGrath RentCorp by 20.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 71,788 shares of the financial services provider’s stock worth $8,325,000 after purchasing an additional 12,199 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Insider Buying and Selling

In related news, SVP Gilda Malek sold 829 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $107.29, for a total value of $88,943.41. Following the completion of the transaction, the senior vice president directly owned 4,068 shares of the company’s stock, valued at $436,455.72. This trade represents a 16.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

McGrath RentCorp Stock Performance

NASDAQ MGRC opened at $121.28 on Friday. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $129.93. The stock has a market cap of $2.98 billion, a PE ratio of 20.34, a PEG ratio of 1.18 and a beta of 0.51. The firm has a 50-day simple moving average of $108.86 and a 200 day simple moving average of $113.57.

McGrath RentCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, January 16th. McGrath RentCorp’s dividend payout ratio is presently 32.83%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MGRC shares. Weiss Ratings reissued a “hold (c+)” rating on shares of McGrath RentCorp in a research report on Tuesday, January 27th. Zacks Research upgraded shares of McGrath RentCorp from a “strong sell” rating to a “hold” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $143.00.

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.