Gilda Malek Sells 1,407 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) SVP Gilda Malek sold 1,407 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $114.04, for a total transaction of $160,454.28. Following the completion of the transaction, the senior vice president directly owned 8,018 shares of the company’s stock, valued at $914,372.72. This represents a 14.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

McGrath RentCorp Stock Down 0.1%

MGRC stock traded down $0.10 during midday trading on Tuesday, hitting $114.08. The company’s stock had a trading volume of 210,419 shares, compared to its average volume of 179,610. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $128.41. The firm has a market capitalization of $2.80 billion, a P/E ratio of 18.11, a PEG ratio of 1.17 and a beta of 0.44. The firm has a 50-day simple moving average of $112.48 and a 200-day simple moving average of $110.60.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results 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 business had revenue of $198.54 million during the quarter, compared to analysts’ expectations of $198.19 million. On average, sell-side analysts expect that McGrath RentCorp will post 6.35 earnings per share 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. Stockholders 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 dividend yield of 1.7%. The ex-dividend date is Friday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 31.43%.

Institutional Investors Weigh In On McGrath RentCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in McGrath RentCorp by 26.7% in the first quarter. Bank of America Corp DE now owns 123,549 shares of the financial services provider’s stock valued at $13,625,000 after acquiring an additional 26,022 shares during the last quarter. Amundi boosted its stake in McGrath RentCorp by 113.3% in the first quarter. Amundi now owns 7,565 shares of the financial services provider’s stock valued at $834,000 after acquiring an additional 4,018 shares in the last quarter. Quantinno Capital Management LP boosted its stake in McGrath RentCorp by 622.7% in the first quarter. Quantinno Capital Management LP now owns 14,728 shares of the financial services provider’s stock valued at $1,624,000 after acquiring an additional 12,690 shares in the last quarter. Lazard Asset Management LLC acquired a new position in McGrath RentCorp in the first quarter valued at $3,877,000. Finally, Anchor Capital Management Company LLC boosted its stake in McGrath RentCorp by 27.9% in the first quarter. Anchor Capital Management Company LLC now owns 185,211 shares of the financial services provider’s stock valued at $20,425,000 after acquiring an additional 40,352 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McGrath RentCorp presently has an average rating of “Moderate Buy” and a consensus 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.