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

McGrath RentCorp (NASDAQ:MGRC) CAO David Whitney sold 3,783 shares of McGrath RentCorp stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $113.65, for a total value of $429,937.95. Following the transaction, the chief accounting officer owned 6,533 shares in the company, valued at $742,475.45. This trade represents a 36.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

McGrath RentCorp Stock Performance

NASDAQ MGRC traded up $0.25 during trading hours on Friday, reaching $115.09. 89,850 shares of the company’s stock were exchanged, compared to its average volume of 179,311. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.15 and a beta of 0.44. The company’s 50-day moving average is $112.29 and its two-hundred day moving average is $110.42. McGrath RentCorp has a one year low of $94.99 and a one year high of $128.41.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly 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 company had revenue of $198.54 million during the quarter, compared to the consensus estimate of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. Research analysts predict that McGrath RentCorp will post 6.35 earnings per share for the current fiscal year.

McGrath RentCorp Announces Dividend

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

Analysts Set New Price Targets

Separately, Weiss Ratings cut McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, McGrath RentCorp presently has a consensus rating of “Moderate Buy” and an average price target of $141.50.

Institutional Investors Weigh In On McGrath RentCorp

Several institutional investors have recently bought and sold shares of MGRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in McGrath RentCorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 639 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in McGrath RentCorp by 5.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,256 shares of the financial services provider’s stock valued at $8,606,000 after acquiring an additional 3,967 shares in the last quarter. Jane Street Group LLC lifted its stake in McGrath RentCorp by 2,213.6% in the 1st quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider’s stock valued at $6,477,000 after acquiring an additional 55,627 shares in the last quarter. Focus Partners Wealth lifted its stake in McGrath RentCorp by 68.6% in the 1st quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 832 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in McGrath RentCorp by 24.8% in the 1st quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider’s stock valued at $1,537,000 after acquiring an additional 2,745 shares in the last quarter. Institutional investors 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.