What to Know About This $18 Million Bet on a Rental Business With 35 Years of Dividend Growth

Paradice Investment Management disclosed a new position in McGrath RentCorp (NASDAQ:MGRC) on May 14, 2026, with an estimated $17.64 million trade based on quarterly average pricing.

Paradice Investment Management initiated a new stake of 158,670 shares in McGrath RentCorp (NASDAQ:MGRC) , according to a May 14, 2026, SEC filing . The estimated value of the trade was $17.64 million, calculated using the average closing price for the first quarter of 2026. As of quarter-end, the MGRC position was valued at $17.50 million, reflecting the impact of market movements over the period.

This is a new position for Paradice, now accounting for roughly 3% of its reportable U.S. equity AUM after the trade.

As of Friday, MGRC shares were priced at $108.99, down 4% over the past year, and well underperforming the S&P 500, which is instead up about 28%.

McGrath RentCorp offers relocatable modular buildings, portable storage containers, electronic test equipment, and liquid/solid containment tanks across four main segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

The firm generates revenue primarily through rental and sales of modular buildings, storage solutions, and specialized equipment, targeting both recurring rental income and equipment sales to institutional and industrial clients.

It serves diverse end-markets including education, construction, industrial, aerospace, defense, communications, and public sector entities in the United States and internationally.

McGrath RentCorp is a leading business-to-business rental solutions provider with a diversified portfolio spanning modular buildings, electronic test equipment, and liquid containment systems. The company operates through four segments and generates revenue from both recurring rental income and equipment sales. The company serves a broad range of customers and offers specialized rental solutions in the rental and leasing services industry.