Tredje AP fonden Invests $12.25 Million in McGrath RentCorp $MGRC

Tredje AP fonden acquired a new position in shares of McGrath RentCorp (NASDAQ:MGRC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 116,708 shares of the financial services provider’s stock, valued at approximately $12,246,000. Tredje AP fonden owned about 0.47% of McGrath RentCorp at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MGRC. Aster Capital Management DIFC Ltd acquired a new stake in McGrath RentCorp in the 3rd quarter valued at about $29,000. Cullen Frost Bankers Inc. acquired a new stake in McGrath RentCorp in the 3rd quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its stake in McGrath RentCorp by 767.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. Danske Bank A S bought a new position in McGrath RentCorp in the 3rd quarter valued at about $47,000. Finally, Strs Ohio bought a new position in shares of McGrath RentCorp during the first quarter worth approximately $56,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MGRC has been the topic of several recent research reports. Weiss Ratings cut shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Barclays initiated coverage on shares of McGrath RentCorp in a report on Wednesday, February 11th. They set an “overweight” rating and a $140.00 target price on the stock. Two research analysts have 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 has an average rating of “Moderate Buy” and a consensus price target of $141.50.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, insider Trease Kristina Van sold 539 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $115.00, for a total value of $61,985.00. Following the sale, the insider owned 10,316 shares in the company, valued at $1,186,340. This trade represents a 4.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph F. Hanna sold 530 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $112.00, for a total transaction of $59,360.00. Following the completion of the sale, the director owned 159,049 shares in the company, valued at $17,813,488. This represents a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 11,078 shares of company stock valued at $1,248,610. 1.40% of the stock is currently owned by corporate insiders.

McGrath RentCorp Stock Performance

Shares of MGRC stock opened at $109.92 on Wednesday. The stock’s fifty day moving average price is $111.16 and its two-hundred day moving average price is $109.55. The company has a market cap of $2.70 billion, a PE ratio of 17.45, a P/E/G ratio of 1.15 and a beta of 0.45. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $128.41.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.03). The business had revenue of $198.54 million during the quarter, compared to analyst estimates of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. On average, equities analysts predict that McGrath RentCorp will post 6.35 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were issued a $0.495 dividend. The ex-dividend date of this dividend was Thursday, April 16th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.49. McGrath RentCorp’s dividend payout ratio (DPR) is 31.43%.

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.