Philip Hawkins Sells 4,435 Shares of McGrath RentCorp (NASDAQ:MGRC) 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 value of $536,235.85. Following the transaction, the chief executive officer directly owned 13,371 shares of the company’s stock, valued at approximately $1,616,687.61. This represents a 24.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

McGrath RentCorp Stock Performance

MGRC stock opened at $122.28 on Friday. The company’s 50 day moving average price is $117.94 and its 200 day moving average price is $114.08. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.22 and a beta of 0.44. McGrath RentCorp has a fifty-two week low of $94.99 and a fifty-two week high of $127.68.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%.The firm had revenue of $221.11 million during the quarter, compared to analysts’ expectations of $236.51 million. Equities analysts forecast that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 31.88%.

Analyst Upgrades and Downgrades

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 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 company currently has an average rating of “Moderate Buy” and an average price target of $141.50.

Institutional Investors Weigh In On McGrath RentCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. River Road Asset Management LLC boosted its holdings in McGrath RentCorp by 3.1% in the fourth quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock valued at $223,619,000 after purchasing an additional 64,566 shares in the last quarter. BlackRock Inc. purchased a new position in McGrath RentCorp in the second quarter valued at approximately $252,840,000. Eminence Capital LP raised its holdings in McGrath RentCorp by 0.5% during the fourth quarter. Eminence Capital LP now owns 949,673 shares of the financial services provider’s stock worth $99,649,000 after purchasing an additional 4,701 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in McGrath RentCorp by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 906,954 shares of the financial services provider’s stock worth $100,019,000 after purchasing an additional 47,451 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in McGrath RentCorp by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 900,181 shares of the financial services provider’s stock worth $94,456,000 after purchasing an additional 6,552 shares in the last quarter. 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.