Medina Value Partners LLC Invests $25.45 Billion in McGrath RentCorp $MGRC

Medina Value Partners LLC purchased a new stake in McGrath RentCorp (NASDAQ:MGRC) in the second quarter, Holdings Channel reports. The firm purchased 210,294 shares of the financial services provider’s stock, valued at approximately $25,451,883,000. McGrath RentCorp comprises about 5.0% of Medina Value Partners LLC’s holdings, making the stock its 5th largest position.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in McGrath RentCorp by 767.7% in the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 238 shares during the period. Danske Bank A S acquired a new position in shares of McGrath RentCorp in the 3rd quarter valued at about $47,000. Strs Ohio bought a new stake in shares of McGrath RentCorp during the 1st quarter valued at about $56,000. Covestor Ltd grew its position in shares of McGrath RentCorp by 52.0% during the 4th quarter. Covestor Ltd now owns 1,385 shares of the financial services provider’s stock valued at $145,000 after buying an additional 474 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new stake in McGrath RentCorp during the third quarter worth about $204,000. 92.05% of the stock is currently owned by institutional investors.

Insider Activity at McGrath RentCorp

In other news, Director Joseph F. Hanna sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $120.64, for a total transaction of $904,800.00. Following the completion of the transaction, the director directly owned 151,549 shares in the company, valued at approximately $18,282,871.36. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Lieffrig sold 500 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $125.00, for a total value of $62,500.00. Following the completion of the transaction, the vice president directly owned 23,551 shares of the company’s stock, valued at $2,943,875. This trade represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 25,408 shares of company stock valued at $3,014,686. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $141.50.

McGrath RentCorp Stock Down 1.5%

MGRC stock opened at $114.73 on Wednesday. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $127.68. The firm’s 50-day simple moving average is $118.53 and its 200 day simple moving average is $114.19. The stock has a market cap of $2.80 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). The firm 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%. Equities analysts forecast that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

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