McGrath RentCorp (NASDAQ:MGRC) Insider Trease Kristina Van Sells 539 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) insider Trease Kristina Van sold 539 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $115.00, for a total transaction of $61,985.00. Following the completion of the transaction, the insider owned 10,316 shares in the company, valued at approximately $1,186,340. The trade was a 4.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

McGrath RentCorp Stock Down 2.5%

MGRC stock opened at $109.92 on Wednesday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.15 and a beta of 0.45. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $128.41. The company’s fifty day simple moving average is $111.16 and its 200 day simple moving average is $109.55.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share (EPS) 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 the consensus estimate of $198.19 million. McGrath RentCorp had a return on equity of 12.84% and a net margin of 16.38%. Research analysts expect that McGrath RentCorp will post 6.35 earnings per share for the current year.

McGrath RentCorp Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MGRC. Northwestern Mutual Wealth Management Co. lifted its stake in shares of McGrath RentCorp by 690,151.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 296,808 shares of the financial services provider’s stock valued at $31,144,000 after buying an additional 296,765 shares in the last quarter. Channing Capital Management LLC lifted its stake in shares of McGrath RentCorp by 39.1% in the fourth quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider’s stock valued at $87,815,000 after buying an additional 235,311 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of McGrath RentCorp by 752.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 237,506 shares of the financial services provider’s stock valued at $24,922,000 after buying an additional 209,646 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of McGrath RentCorp by 102.8% in the third quarter. Raymond James Financial Inc. now owns 303,205 shares of the financial services provider’s stock valued at $35,566,000 after buying an additional 153,701 shares in the last quarter. Finally, Tredje AP fonden bought a new position in shares of McGrath RentCorp in the fourth quarter valued at $12,246,000. 92.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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