McGrath RentCorp (NASDAQ:MGRC) CEO Sells $536,235.85 in Stock

McGrath RentCorp (NASDAQ:MGRC) CEO Philip Hawkins sold 4,435 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $120.91, for a total transaction of $536,235.85. Following the transaction, the chief executive officer owned 13,371 shares in the company, valued at approximately $1,616,687.61. This trade represents a 24.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

McGrath RentCorp Stock Up 1.5%

Shares of NASDAQ:MGRC opened at $122.28 on Friday. The company has a market cap of $2.99 billion, a P/E ratio of 19.69, a PEG ratio of 1.24 and a beta of 0.44. McGrath RentCorp has a 52 week low of $94.99 and a 52 week high of $127.68. The company has a 50-day moving average price of $117.94 and a 200 day moving average price of $114.08.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data 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). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. The business had revenue of $221.11 million during the quarter, compared to analysts’ expectations of $236.51 million. Analysts expect that McGrath RentCorp will post 6.37 EPS for the current year.

McGrath RentCorp Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of McGrath RentCorp in the 2nd quarter worth about $252,840,000. Northwestern Mutual Wealth Management Co. increased its holdings in McGrath RentCorp by 690,151.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 296,808 shares of the financial services provider’s stock valued at $31,144,000 after acquiring an additional 296,765 shares in the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in McGrath RentCorp during the second quarter worth about $35,716,921,000. Channing Capital Management LLC raised its position in McGrath RentCorp by 39.1% during the fourth 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 during the last quarter. Finally, Medina Value Partners LLC purchased a new stake in shares of McGrath RentCorp in the second quarter valued at about $25,451,883,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.