188,656 Shares in McGrath RentCorp $MGRC Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC bought a new position in shares of McGrath RentCorp (NASDAQ:MGRC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 188,656 shares of the financial services provider’s stock, valued at approximately $22,833,000. William Blair Investment Management LLC owned 0.77% of McGrath RentCorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of McGrath RentCorp in the 2nd quarter valued at approximately $252,840,000. Northwestern Mutual Wealth Management Co. raised its position in shares of McGrath RentCorp by 690,151.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 296,808 shares of the financial services provider’s stock valued at $31,144,000 after buying an additional 296,765 shares during the period. Channing Capital Management LLC lifted its holdings in McGrath RentCorp by 39.1% in the fourth quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider’s stock valued at $87,815,000 after acquiring an additional 235,311 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in McGrath RentCorp by 752.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 237,506 shares of the financial services provider’s stock valued at $24,922,000 after acquiring an additional 209,646 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in McGrath RentCorp in the second quarter worth approximately $19,038,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McGrath RentCorp news, VP John Lieffrig sold 500 shares of the company’s stock in a transaction on 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 directly owned 23,551 shares in the company, valued at $2,943,875. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 on Tuesday, August 11th. The stock was 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 approximately $1,616,687.61. This represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,408 shares of company stock valued at $3,014,686 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings raised 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 assigned a Hold rating to the company’s stock. According to MarketBeat, McGrath RentCorp has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

McGrath RentCorp Price Performance

Shares of MGRC stock opened at $116.65 on Friday. The firm has a market cap of $2.85 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The company has a 50-day moving average of $118.47 and a two-hundred day moving average of $114.24. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $127.68.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). The company had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. Sell-side analysts anticipate that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

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

About McGrath RentCorp

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.