McGrath RentCorp (NASDAQ:MGRC) SVP Sells $160,454.28 in Stock

McGrath RentCorp (NASDAQ:MGRC) SVP Gilda Malek sold 1,407 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $114.04, for a total transaction of $160,454.28. Following the completion of the transaction, the senior vice president owned 8,018 shares of the company’s stock, valued at $914,372.72. This represents a 14.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

McGrath RentCorp Stock Performance

NASDAQ MGRC traded down $0.10 during trading hours on Tuesday, hitting $114.08. The company had a trading volume of 210,419 shares, compared to its average volume of 179,610. The company has a market cap of $2.80 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The business has a 50 day moving average of $112.48 and a 200-day moving average of $110.60. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $128.41.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.03). The business had revenue of $198.54 million for the quarter, compared to analyst estimates of $198.19 million. McGrath RentCorp had a return on equity of 12.84% and a net margin of 16.38%. Sell-side analysts expect that McGrath RentCorp will post 6.35 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a dividend of $0.495 per share. The ex-dividend date is Friday, July 17th. This represents a $1.98 dividend on an annualized basis and a yield of 1.7%. McGrath RentCorp’s dividend payout ratio is currently 31.43%.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.50.

Institutional Investors Weigh In On McGrath RentCorp

A number of hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in McGrath RentCorp by 0.7% in the second quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 85 shares during the period. Diversified Trust Co. lifted its position in McGrath RentCorp by 4.6% in the fourth quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 103 shares during the period. California State Teachers Retirement System lifted its position in McGrath RentCorp by 0.5% in the second quarter. California State Teachers Retirement System now owns 22,696 shares of the financial services provider’s stock valued at $2,632,000 after purchasing an additional 119 shares during the period. Neuberger Berman Group LLC lifted its position in McGrath RentCorp by 6.9% in the fourth quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 126 shares during the period. Finally, Osaic Holdings Inc. lifted its position in McGrath RentCorp by 1.0% in the fourth quarter. Osaic Holdings Inc. now owns 15,596 shares of the financial services provider’s stock valued at $1,636,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.