McGrath RentCorp (MGRC) To Go Ex-Dividend on July 17th

McGrath RentCorp (NASDAQ:MGRC) announced a quarterly dividend on Wednesday, June 3rd. Investors of record on Friday, July 17th will be given a dividend of 0.495 per share by the financial services provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, July 17th.

McGrath RentCorp has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 33 years. McGrath RentCorp has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect McGrath RentCorp to earn $7.07 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 28.0%.

McGrath RentCorp Stock Up 2.2%

MGRC opened at $109.34 on Friday. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $128.41. The company has a fifty day simple moving average of $112.12 and a 200 day simple moving average of $109.90. The stock has a market cap of $2.69 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.09 and a beta of 0.44.

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

Insider Buying and Selling

In related news, insider Trease Kristina Van sold 539 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $115.00, for a total value of $61,985.00. Following the completion of the transaction, the insider directly owned 10,316 shares of the company’s stock, valued at approximately $1,186,340. This represents a 4.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph F. Hanna sold 9,470 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $112.49, for a total transaction of $1,065,280.30. Following the transaction, the director owned 159,579 shares of the company’s stock, valued at approximately $17,951,041.71. This represents a 5.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,078 shares of company stock valued at $1,248,610. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On McGrath RentCorp

A number of large investors have recently modified their holdings of the business. River Road Asset Management LLC boosted its stake in shares of McGrath RentCorp by 3.1% during the 4th quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock worth $223,619,000 after buying an additional 64,566 shares during the last quarter. Eminence Capital LP boosted its stake in shares of McGrath RentCorp by 0.5% during the 4th quarter. Eminence Capital LP now owns 949,673 shares of the financial services provider’s stock worth $99,649,000 after buying an additional 4,701 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of McGrath RentCorp by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 906,954 shares of the financial services provider’s stock worth $100,019,000 after buying an additional 47,451 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of McGrath RentCorp by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 900,181 shares of the financial services provider’s stock worth $94,456,000 after buying an additional 6,552 shares during the last quarter. Finally, Channing Capital Management LLC boosted its stake in shares of McGrath RentCorp by 39.1% during the 4th quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider’s stock worth $87,815,000 after buying an additional 235,311 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

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.