McGrath RentCorp (NASDAQ:MGRC) Insider Sells $429,937.95 in Stock

McGrath RentCorp (NASDAQ:MGRC) insider Trease Kristina Van sold 3,783 shares of McGrath RentCorp stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total transaction of $429,937.95. Following the sale, the insider owned 6,533 shares in the company, valued at $742,475.45. This represents a 36.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Trease Kristina Van also recently made the following trade(s):

• On Friday, May 15th, Trease Kristina Van sold 539 shares of McGrath RentCorp stock. The shares were sold at an average price of $115.00, for a total transaction of $61,985.00.

McGrath RentCorp Stock Performance

Shares of MGRC stock opened at $115.09 on Monday. The stock’s 50-day moving average is $112.35 and its two-hundred day moving average is $110.53. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.17 and a beta of 0.44. 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 data 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 firm had revenue of $198.54 million during the quarter, compared to analysts’ expectations of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. As a group, research analysts predict that McGrath RentCorp will post 6.35 EPS for the current year.

McGrath RentCorp Announces Dividend

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

Institutional Investors Weigh In On McGrath RentCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. grew its holdings 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. raised 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% during the 2nd quarter. California State Teachers Retirement System now owns 22,696 shares of the financial services provider’s stock worth $2,632,000 after acquiring an additional 119 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of McGrath RentCorp by 6.9% during the fourth quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 126 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in McGrath RentCorp by 1.0% in the 4th quarter. Osaic Holdings Inc. now owns 15,596 shares of the financial services provider’s stock worth $1,636,000 after buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Analyst Upgrades and Downgrades

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 equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.50.

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.