McGrath RentCorp (NASDAQ:MGRC) Insider Sells $61,985.00 in Stock

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

McGrath RentCorp Trading Down 0.1%

NASDAQ:MGRC opened at $109.68 on Friday. The company has a market cap of $2.69 billion, a PE ratio of 17.41, a P/E/G ratio of 1.12 and a beta of 0.45. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $128.41. The company’s 50 day moving average is $111.36 and its two-hundred day moving average is $109.57.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.03). The company had revenue of $198.54 million for the quarter, compared to analysts’ expectations of $198.19 million. McGrath RentCorp had a return on equity of 12.84% and a net margin of 16.38%. As a group, analysts expect that McGrath RentCorp will post 6.35 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were given a dividend of $0.495 per share. The ex-dividend date of this dividend was Thursday, April 16th. This represents a $1.98 annualized dividend and a yield of 1.8%. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.49. McGrath RentCorp’s payout ratio is presently 31.43%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Weiss Ratings downgraded shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Barclays assumed coverage on shares of McGrath RentCorp in a research report on Wednesday, February 11th. They set an “overweight” rating and a $140.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.50.

Institutional Trading of McGrath RentCorp

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its holdings in shares of McGrath RentCorp by 112.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 44,953 shares of the financial services provider’s stock valued at $5,273,000 after acquiring an additional 23,817 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of McGrath RentCorp in the 3rd quarter valued at $6,866,000. Ranger Investment Management L.P. purchased a new stake in shares of McGrath RentCorp in the 3rd quarter valued at $2,970,000. Channing Capital Management LLC boosted its holdings in shares of McGrath RentCorp by 19.8% in the 3rd quarter. Channing Capital Management LLC now owns 601,583 shares of the financial services provider’s stock valued at $70,566,000 after acquiring an additional 99,626 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in shares of McGrath RentCorp in the 3rd quarter valued at $1,246,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

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.