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

McGrath RentCorp (NASDAQ:MGRC) CAO David Whitney sold 539 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $115.00, for a total value of $61,985.00. Following the transaction, the chief accounting officer directly owned 10,316 shares in the company, valued at $1,186,340. This represents a 4.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

McGrath RentCorp Stock Down 2.5%

MGRC stock traded down $2.84 on Tuesday, reaching $109.92. 149,551 shares of the company’s stock were exchanged, compared to its average volume of 182,742. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $128.41. The stock has a fifty day moving average of $111.12 and a 200-day moving average of $109.56. The firm has a market cap of $2.70 billion, a PE ratio of 17.45, a P/E/G ratio of 1.13 and a beta of 0.45.

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

McGrath RentCorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were issued a $0.495 dividend. The ex-dividend date was Thursday, April 16th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.8%. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.49. McGrath RentCorp’s payout ratio is currently 31.43%.

Hedge Funds Weigh In On McGrath RentCorp

A number of institutional investors have recently made changes to their positions in MGRC. Aster Capital Management DIFC Ltd acquired a new position in shares of McGrath RentCorp in the third quarter worth $29,000. Cullen Frost Bankers Inc. acquired a new position in shares of McGrath RentCorp in the third quarter worth $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of McGrath RentCorp by 767.7% during 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 last quarter. Danske Bank A S acquired a new stake in shares of McGrath RentCorp during the 3rd quarter worth about $47,000. Finally, Strs Ohio acquired a new stake in shares of McGrath RentCorp during the 1st quarter worth about $56,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MGRC shares. Barclays began coverage on McGrath RentCorp in a report on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 price target on the stock. Weiss Ratings downgraded McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.