Insider Selling: McGrath RentCorp (NASDAQ:MGRC) VP Sells $240,820.00 in Stock

McGrath RentCorp (NASDAQ:MGRC) VP John Skenesky sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $120.41, for a total transaction of $240,820.00. Following the completion of the transaction, the vice president directly owned 10,634 shares in the company, valued at $1,280,439.94. This represents a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

McGrath RentCorp Stock Performance

MGRC stock opened at $122.28 on Friday. McGrath RentCorp has a one year low of $94.99 and a one year high of $127.68. The stock has a market capitalization of $2.99 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.44. The company has a fifty day moving average of $117.94 and a 200-day moving average of $114.08.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.10). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. 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 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a $0.495 dividend. 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 payout ratio is currently 31.88%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

Institutional Trading of McGrath RentCorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in McGrath RentCorp by 767.7% during the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after buying an additional 238 shares in the last quarter. Danske Bank A S acquired a new stake in shares of McGrath RentCorp during the 3rd quarter valued at approximately $47,000. Strs Ohio acquired a new stake in shares of McGrath RentCorp during the 1st quarter valued at approximately $56,000. Covestor Ltd boosted its stake in shares of McGrath RentCorp by 52.0% during the 4th quarter. Covestor Ltd now owns 1,385 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 474 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of McGrath RentCorp by 6.9% in the 4th quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 126 shares during the period. 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.