McGrath RentCorp (NASDAQ:MGRC) VP Sells 2,000 Shares

McGrath RentCorp (NASDAQ:MGRC) VP John Lieffrig sold 2,000 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the sale, the vice president owned 24,051 shares of the company’s stock, valued at approximately $3,006,375. This represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Lieffrig also recently made the following trade(s):

• On Friday, June 26th, John Lieffrig sold 500 shares of McGrath RentCorp stock. The stock was sold at an average price of $125.00, for a total value of $62,500.00.

McGrath RentCorp Trading Down 1.4%

Shares of MGRC traded down $1.76 during midday trading on Monday, reaching $121.55. 236,565 shares of the company were exchanged, compared to its average volume of 190,835. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $128.41. The stock has a 50-day moving average price of $113.66 and a 200-day moving average price of $111.61. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.25 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share (EPS) 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 analyst estimates of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. Equities research analysts anticipate that McGrath RentCorp will post 6.35 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, July 17th. McGrath RentCorp’s payout ratio is presently 31.43%.

Wall Street Analyst Weigh In

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

Institutional Trading of McGrath RentCorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in McGrath RentCorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider’s stock worth $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 position in shares of McGrath RentCorp by 5.4% during the first 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 worth $8,606,000 after purchasing an additional 3,967 shares during the last quarter. Jane Street Group LLC lifted its position in shares of McGrath RentCorp by 2,213.6% during the first quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider’s stock worth $6,477,000 after purchasing an additional 55,627 shares during the last quarter. Focus Partners Wealth grew its stake in McGrath RentCorp by 68.6% in the first quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 832 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in McGrath RentCorp by 24.8% in the first quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider’s stock worth $1,537,000 after purchasing an additional 2,745 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

About McGrath RentCorp

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.