Eminence Capital LP Has $110.85 Million Stock Holdings in McGrath RentCorp $MGRC

Eminence Capital LP increased its stake in McGrath RentCorp (NASDAQ:MGRC) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 944,972 shares of the financial services provider’s stock after acquiring an additional 49,930 shares during the quarter. Eminence Capital LP owned about 3.84% of McGrath RentCorp worth $110,845,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of McGrath RentCorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider’s stock worth $1,618,000 after buying an additional 639 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of McGrath RentCorp by 5.4% in the 1st 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 worth $8,606,000 after acquiring an additional 3,967 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of McGrath RentCorp by 2,213.6% in the 1st quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider’s stock valued at $6,477,000 after purchasing an additional 55,627 shares during the period. Focus Partners Wealth boosted its position in shares of McGrath RentCorp by 68.6% during the 1st quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 832 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake 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 purchasing an additional 2,745 shares during the period. Institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $103.59 on Friday. The stock has a market capitalization of $2.55 billion, a PE ratio of 16.31, a P/E/G ratio of 1.03 and a beta of 0.50. McGrath RentCorp has a one year low of $94.99 and a one year high of $128.41. The business’s fifty day moving average price is $112.16 and its 200-day moving average price is $111.99.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.74 by $0.28. The business had revenue of $256.76 million for the quarter, compared to the consensus estimate of $254.32 million. McGrath RentCorp had a net margin of 16.55% and a return on equity of 13.21%. As a group, equities analysts expect that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be issued a $0.495 dividend. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $1.98 annualized dividend and a yield of 1.9%. McGrath RentCorp’s payout ratio is 30.55%.

Insiders Place Their Bets

In related news, SVP Gilda Malek sold 829 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $107.29, for a total value of $88,943.41. Following the transaction, the senior vice president directly owned 4,068 shares in the company, valued at approximately $436,455.72. This represents a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of McGrath RentCorp in a report on Tuesday, January 27th. Barclays assumed coverage on shares of McGrath RentCorp in a report on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 price target for the company. Finally, Zacks Research raised shares of McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.