Insider Selling: McGrath RentCorp (NASDAQ:MGRC) Insider Sells 3,783 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) insider Trease Kristina Van sold 3,783 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total value of $429,937.95. Following the transaction, the insider directly owned 6,533 shares in the company, valued at $742,475.45. The trade was a 36.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Trease Kristina Van also recently made the following trade(s):

• On Friday, May 15th, Trease Kristina Van sold 539 shares of McGrath RentCorp stock. The stock was sold at an average price of $115.00, for a total value of $61,985.00.

McGrath RentCorp Stock Up 0.2%

Shares of MGRC stock traded up $0.25 during trading on Friday, reaching $115.09. 89,850 shares of the company’s stock were exchanged, compared to its average volume of 179,311. The stock has a market capitalization of $2.83 billion, a PE ratio of 18.27, a PEG ratio of 1.15 and a beta of 0.44. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $128.41. The firm’s fifty day moving average price is $112.29 and its 200-day moving average price is $110.42.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.03). The business had revenue of $198.54 million for the quarter, compared to analyst estimates of $198.19 million. McGrath RentCorp had a return on equity of 12.84% and a net margin of 16.38%. As a group, analysts anticipate that McGrath RentCorp will post 6.35 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, July 17th. McGrath RentCorp’s dividend payout ratio is currently 31.43%.

Institutional Investors Weigh In On McGrath RentCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted 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 during the period. Channing Capital Management LLC grew its holdings in shares of McGrath RentCorp by 39.1% during the 4th quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider’s stock worth $87,815,000 after purchasing an additional 235,311 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of McGrath RentCorp by 752.5% during 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 purchasing an additional 209,646 shares in the last quarter. Raymond James Financial Inc. increased its position 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 worth $35,566,000 after purchasing an additional 153,701 shares during the period. Finally, Tredje AP fonden bought a new position in shares of McGrath RentCorp in the fourth quarter worth $12,246,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.