McGrath RentCorp (NASDAQ:MGRC) Director Sells $59,360.00 in Stock

McGrath RentCorp (NASDAQ:MGRC) Director Joseph Hanna sold 530 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $112.00, for a total value of $59,360.00. Following the completion of the transaction, the director directly owned 159,049 shares in the company, valued at $17,813,488. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

McGrath RentCorp Price Performance

NASDAQ:MGRC opened at $114.33 on Friday. The business’s 50-day moving average is $110.81 and its two-hundred day moving average is $109.76. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $128.41. The firm has a market capitalization of $2.81 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.15 and a beta of 0.45.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.03). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. The company had revenue of $198.54 million during the quarter, compared to analysts’ expectations of $198.19 million. Equities analysts anticipate that McGrath RentCorp will post 6.35 EPS for the current year.

McGrath RentCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 1.7%. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, April 16th. McGrath RentCorp’s dividend payout ratio is 31.43%.

Analysts Set New Price Targets

Several research analysts have commented on MGRC shares. Weiss Ratings reissued a “hold (c+)” rating on shares of McGrath RentCorp in a research report on Friday, April 24th. Barclays started coverage on McGrath RentCorp in a research report on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 price objective on the stock. Finally, Zacks Research raised McGrath RentCorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 15th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, McGrath RentCorp has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

Institutional Trading of McGrath RentCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in McGrath RentCorp by 0.7% in the second quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider’s stock valued at $1,422,000 after buying an additional 85 shares during the last quarter. Diversified Trust Co. increased its holdings in McGrath RentCorp by 4.6% in the fourth quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider’s stock valued at $245,000 after buying an additional 103 shares during the last quarter. Arizona State Retirement System increased its holdings in McGrath RentCorp by 1.7% in the third quarter. Arizona State Retirement System now owns 7,270 shares of the financial services provider’s stock valued at $853,000 after buying an additional 119 shares during the last quarter. California State Teachers Retirement System increased its holdings in McGrath RentCorp by 0.5% in the second quarter. California State Teachers Retirement System now owns 22,696 shares of the financial services provider’s stock valued at $2,632,000 after buying an additional 119 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in McGrath RentCorp by 6.9% in the fourth quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider’s stock valued at $204,000 after buying an additional 126 shares during the last quarter. 92.05% of the stock is owned by institutional investors.

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.