John Lieffrig Sells 500 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) VP John Lieffrig sold 500 shares of McGrath RentCorp stock in a transaction on Friday, June 26th. The shares were sold at an average price of $125.00, for a total transaction of $62,500.00. Following the completion of the sale, the vice president directly owned 23,551 shares of the company’s stock, valued at approximately $2,943,875. The trade was a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Lieffrig also recently made the following trade(s):

• On Thursday, June 25th, John Lieffrig sold 2,000 shares of McGrath RentCorp stock. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00.

McGrath RentCorp Trading Down 1.4%

McGrath RentCorp stock traded down $1.76 during mid-day trading on Monday, hitting $121.55. 236,565 shares of the company’s stock were exchanged, compared to its average volume of 190,835. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $128.41. The stock has a 50 day moving average of $113.66 and a two-hundred day moving average of $111.61. The stock has a market cap of $2.99 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.25 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last announced 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 company had revenue of $198.54 million during 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%. As a group, research analysts predict that McGrath RentCorp will post 6.35 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, July 17th. McGrath RentCorp’s payout ratio is 31.43%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a 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 stock. According to MarketBeat.com, McGrath RentCorp presently has a consensus rating of “Moderate Buy” and an average target price of $141.50.

Institutional Investors Weigh In On McGrath RentCorp

A number of hedge funds have recently bought and sold shares of MGRC. Aster Capital Management DIFC Ltd bought a new stake in McGrath RentCorp during the 3rd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its stake in shares of McGrath RentCorp by 767.7% in 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 acquired a new stake in shares of McGrath RentCorp in the third quarter worth $47,000. Strs Ohio bought a new position in McGrath RentCorp during the first quarter worth $56,000. Finally, Covestor Ltd raised its stake in McGrath RentCorp by 52.0% during the 4th quarter. Covestor Ltd now owns 1,385 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 474 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors.

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.