Trease Kristina Van Sells 539 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) insider Trease Kristina Van sold 539 shares of the company’s stock in a transaction on Friday, May 15th. The stock was 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 of the company’s stock, valued at approximately $1,186,340. This represents a 4.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

McGrath RentCorp Stock Down 0.1%

Shares of MGRC stock opened at $109.83 on Thursday. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $128.41. The company has a market cap of $2.70 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.12 and a beta of 0.45. The business has a fifty day simple moving average of $111.25 and a 200 day simple moving average of $109.56.

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

McGrath RentCorp Increases Dividend

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

Hedge Funds Weigh In On McGrath RentCorp

A number of hedge funds have recently made changes to their positions in MGRC. Aster Capital Management DIFC Ltd bought a new position in shares of McGrath RentCorp during the third quarter worth about $29,000. Cullen Frost Bankers Inc. bought a new position in shares of McGrath RentCorp during the third quarter worth about $30,000. EverSource Wealth Advisors LLC raised its position in shares of McGrath RentCorp by 767.7% during the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 238 shares during the last quarter. Danske Bank A S bought a new position in shares of McGrath RentCorp during the third quarter worth about $47,000. Finally, Strs Ohio bought a new position in shares of McGrath RentCorp during the first quarter worth about $56,000. 92.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on MGRC shares. Barclays started coverage on McGrath RentCorp in a research report on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 target price for the company. Weiss Ratings downgraded McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, McGrath RentCorp presently has a consensus rating of “Moderate Buy” and an average target price of $141.50.

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.