Philip Hawkins Sells 4,435 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) CEO Philip Hawkins sold 4,435 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $120.91, for a total transaction of $536,235.85. Following the completion of the transaction, the chief executive officer owned 13,371 shares in the company, valued at approximately $1,616,687.61. The trade was a 24.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

McGrath RentCorp Stock Down 0.0%

MGRC traded down $0.06 on Thursday, reaching $120.48. 91,344 shares of the company traded hands, compared to its average volume of 185,247. The firm has a fifty day simple moving average of $117.45 and a two-hundred day simple moving average of $113.97. McGrath RentCorp has a one year low of $94.99 and a one year high of $127.68. The company has a market cap of $2.94 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 1.22 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). The firm had revenue of $221.11 million during the quarter, compared to analysts’ expectations of $236.51 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. On average, equities analysts forecast that McGrath RentCorp will post 6.37 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, July 17th. McGrath RentCorp’s dividend payout ratio is presently 31.88%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, McGrath RentCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

Hedge Funds Weigh In On McGrath RentCorp

Hedge funds have recently modified their holdings of the stock. River Road Asset Management LLC raised its position in shares of McGrath RentCorp by 3.1% in the 4th quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock valued at $223,619,000 after purchasing an additional 64,566 shares during the last quarter. BlackRock Inc. purchased a new stake in McGrath RentCorp during the 2nd quarter worth approximately $252,840,000. Eminence Capital LP grew its position in 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 purchasing an additional 4,701 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 valued at $100,019,000 after purchasing an additional 47,451 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in 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 valued at $94,456,000 after purchasing an additional 6,552 shares in the last quarter. 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.