Peterson Wealth Services Boosts Position in McGrath RentCorp $MGRC

Peterson Wealth Services grew its stake in shares of McGrath RentCorp (NASDAQ:MGRC) by 6,091.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,359 shares of the financial services provider’s stock after acquiring an additional 21,014 shares during the period. Peterson Wealth Services’ holdings in McGrath RentCorp were worth $2,505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loomis Sayles & Co. L P boosted its position in shares of McGrath RentCorp by 282.1% in the second quarter. Loomis Sayles & Co. L P now owns 328,609 shares of the financial services provider’s stock valued at $38,106,000 after acquiring an additional 242,598 shares during the period. Allianz Asset Management GmbH lifted its stake in McGrath RentCorp by 1,803.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 180,195 shares of the financial services provider’s stock worth $20,895,000 after purchasing an additional 170,730 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in McGrath RentCorp by 1,139.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 116,890 shares of the financial services provider’s stock worth $13,555,000 after purchasing an additional 107,462 shares in the last quarter. Marshall Wace LLP boosted its holdings in McGrath RentCorp by 134.8% in the 2nd quarter. Marshall Wace LLP now owns 153,335 shares of the financial services provider’s stock valued at $17,781,000 after purchasing an additional 88,039 shares during the period. Finally, River Road Asset Management LLC grew its position in shares of McGrath RentCorp by 4.0% during the 2nd quarter. River Road Asset Management LLC now owns 1,970,974 shares of the financial services provider’s stock valued at $245,958,000 after purchasing an additional 76,265 shares in the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MGRC has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of McGrath RentCorp in a research report on Tuesday, January 27th. Zacks Research upgraded McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 15th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, McGrath RentCorp presently has an average rating of “Hold” and an average price target of $143.00.

Insider Activity

In other news, SVP Gilda Malek sold 829 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $107.29, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

McGrath RentCorp Stock Performance

NASDAQ MGRC opened at $115.44 on Tuesday. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $129.93. The company has a fifty day moving average of $107.94 and a 200-day moving average of $113.45. The company has a market capitalization of $2.84 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.09 and a beta of 0.51.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, January 16th. McGrath RentCorp’s dividend payout ratio is presently 32.83%.

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.