McGrath RentCorp (NASDAQ:MGRC) SVP Gilda Malek Sells 1,407 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) SVP Gilda Malek sold 1,407 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $114.04, for a total value of $160,454.28. Following the transaction, the senior vice president directly owned 8,018 shares of the company’s stock, valued at $914,372.72. This represents a 14.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

McGrath RentCorp Stock Down 0.1%

Shares of MGRC stock opened at $114.08 on Wednesday. The stock has a 50-day simple moving average of $112.61 and a 200 day simple moving average of $110.67. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $128.41. The stock has a market capitalization of $2.80 billion, a P/E ratio of 18.11, a P/E/G ratio of 1.16 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last announced 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). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. The firm had revenue of $198.54 million for the quarter, compared to the consensus estimate of $198.19 million. On average, sell-side analysts anticipate that McGrath RentCorp will post 6.35 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.98 annualized dividend and a yield of 1.7%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 31.43%.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Two investment 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 company presently has an average rating of “Moderate Buy” and an average price target of $141.50.

Hedge Funds Weigh In On McGrath RentCorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in McGrath RentCorp by 690,151.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 296,808 shares of the financial services provider’s stock worth $31,144,000 after acquiring an additional 296,765 shares in the last quarter. Channing Capital Management LLC lifted its stake in McGrath RentCorp by 39.1% in the 4th quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider’s stock worth $87,815,000 after acquiring an additional 235,311 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in McGrath RentCorp by 752.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 237,506 shares of the financial services provider’s stock worth $24,922,000 after acquiring an additional 209,646 shares in the last quarter. Raymond James Financial Inc. lifted its stake in McGrath RentCorp by 102.8% in the 3rd quarter. Raymond James Financial Inc. now owns 303,205 shares of the financial services provider’s stock worth $35,566,000 after acquiring an additional 153,701 shares in the last quarter. Finally, Tredje AP fonden purchased a new stake in McGrath RentCorp in the 4th quarter worth about $12,246,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.