Insider Selling: McGrath RentCorp (NASDAQ:MGRC) VP Sells $62,500.00 in Stock

McGrath RentCorp (NASDAQ:MGRC) VP John Lieffrig sold 500 shares of McGrath RentCorp stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $125.00, for a total value of $62,500.00. Following the sale, the vice president directly owned 23,551 shares in the company, valued at $2,943,875. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, June 25th, John Lieffrig sold 2,000 shares of McGrath RentCorp stock. The shares were sold at an average price of $125.00, for a total value of $250,000.00.

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $119.89 on Thursday. The company has a 50 day simple moving average of $113.98 and a 200 day simple moving average of $111.91. The firm has a market cap of $2.94 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.23 and a beta of 0.43. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $128.41.

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). McGrath RentCorp had a return on equity of 12.84% and a net margin of 16.38%.The business had revenue of $198.54 million for the quarter, compared to the consensus estimate of $198.19 million. As a group, research analysts anticipate that McGrath RentCorp will post 6.35 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a dividend of $0.495 per share. 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 payout ratio is 31.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of McGrath RentCorp by 26.7% during 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 buying an additional 26,022 shares during the last quarter. Amundi lifted its stake in McGrath RentCorp by 113.3% during the 1st 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 lifted its stake in McGrath RentCorp by 622.7% during the 1st 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 purchased a new position in McGrath RentCorp during the 1st quarter worth $3,877,000. Finally, Anchor Capital Management Company LLC boosted its holdings in McGrath RentCorp by 27.9% during the 1st quarter. Anchor Capital Management Company LLC now owns 185,211 shares of the financial services provider’s stock worth $20,425,000 after acquiring an additional 40,352 shares during the last quarter. Institutional investors own 92.05% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.