McGrath RentCorp (NASDAQ:MGRC) VP John Skenesky Sells 2,000 Shares

McGrath RentCorp (NASDAQ:MGRC) VP John Skenesky sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $120.41, for a total value of $240,820.00. Following the completion of the transaction, the vice president owned 10,634 shares of the company’s stock, valued at $1,280,439.94. The trade was a 15.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

McGrath RentCorp Trading Down 0.0%

Shares of McGrath RentCorp stock opened at $120.48 on Friday. The firm has a market capitalization of $2.94 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.22 and a beta of 0.44. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $127.68. The business’s 50-day moving average price is $117.67 and its 200-day moving average price is $114.02.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share 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 the consensus estimate of $236.51 million. McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%. As a group, analysts predict that McGrath RentCorp will post 6.37 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

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

Hedge Funds Weigh In On McGrath RentCorp

Several institutional investors and hedge funds have recently bought and sold shares of MGRC. EverSource Wealth Advisors LLC increased its stake in McGrath RentCorp by 767.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 238 shares during the period. Danske Bank A S bought a new stake in McGrath RentCorp in the third quarter valued at approximately $47,000. Strs Ohio purchased a new stake in shares of McGrath RentCorp during the first quarter valued at approximately $56,000. Covestor Ltd boosted its stake in shares of McGrath RentCorp by 52.0% during the fourth 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 period. Finally, Voleon Capital Management LP bought a new position in shares of McGrath RentCorp in the third quarter worth approximately $204,000. 92.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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