Insider Selling: McGrath RentCorp (NASDAQ:MGRC) Insider Sells 539 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) insider Trease Kristina Van sold 539 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $115.00, for a total transaction of $61,985.00. Following the transaction, the insider directly owned 10,316 shares in the company, valued at approximately $1,186,340. The trade was a 4.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

McGrath RentCorp Price Performance

NASDAQ:MGRC traded down $2.84 during trading hours on Tuesday, reaching $109.92. The company’s stock had a trading volume of 149,551 shares, compared to its average volume of 182,742. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.13 and a beta of 0.45. McGrath RentCorp has a one year low of $94.99 and a one year high of $128.41. The business’s 50-day moving average is $111.12 and its 200-day moving average is $109.56.

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

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were paid a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, April 16th. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.49. McGrath RentCorp’s dividend payout ratio (DPR) is 31.43%.

Institutional Investors Weigh In On McGrath RentCorp

Several hedge funds have recently modified their holdings of MGRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of McGrath RentCorp by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 639 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of McGrath RentCorp by 5.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,256 shares of the financial services provider’s stock valued at $8,606,000 after acquiring an additional 3,967 shares during the period. Jane Street Group LLC boosted its position in shares of McGrath RentCorp by 2,213.6% in the first quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider’s stock valued at $6,477,000 after acquiring an additional 55,627 shares during the period. Focus Partners Wealth increased its holdings in shares of McGrath RentCorp by 68.6% during the 1st quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 832 shares during the period. Finally, Intech Investment Management LLC increased its holdings in shares of McGrath RentCorp by 24.8% during the 1st quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider’s stock worth $1,537,000 after purchasing an additional 2,745 shares during the period. 92.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MGRC. Barclays began coverage on McGrath RentCorp in a research note on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 price objective on the stock. Weiss Ratings downgraded shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two 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, the stock has an average rating of “Moderate Buy” and an average price target 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.