McGrath RentCorp (NASDAQ:MGRC) Insider Sells $61,985.00 in Stock

McGrath RentCorp (NASDAQ:MGRC) insider Trease Kristina Van sold 539 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $115.00, for a total transaction of $61,985.00. Following the transaction, the insider owned 10,316 shares in the company, valued at approximately $1,186,340. The trade was a 4.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

McGrath RentCorp Stock Down 2.5%

Shares of MGRC stock traded down $2.84 during mid-day trading on Tuesday, reaching $109.92. The stock had a trading volume of 149,551 shares, compared to its average volume of 182,742. The firm’s 50 day simple moving average is $111.12 and its 200 day simple moving average is $109.56. McGrath RentCorp has a one year low of $94.99 and a one year high of $128.41. The firm has a market cap of $2.70 billion, a PE ratio of 17.45, a P/E/G ratio of 1.13 and a beta of 0.45.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.10 EPS 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 firm had revenue of $198.54 million during the quarter, compared to the consensus estimate of $198.19 million. Sell-side analysts forecast that McGrath RentCorp will post 6.35 earnings per share for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were issued a $0.495 dividend. 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. This represents a $1.98 annualized dividend and a yield of 1.8%. McGrath RentCorp’s payout ratio is presently 31.43%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MGRC. Barclays assumed coverage on shares of McGrath RentCorp in a report on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 price target on the stock. Weiss Ratings cut shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MGRC. American Century Companies Inc. grew its stake in shares of McGrath RentCorp by 0.7% during 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 purchasing an additional 85 shares during the last quarter. Diversified Trust Co. boosted its holdings in McGrath RentCorp by 4.6% during the fourth quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider’s stock worth $245,000 after buying an additional 103 shares during the last quarter. Arizona State Retirement System boosted its holdings in McGrath RentCorp by 1.7% during the third quarter. Arizona State Retirement System now owns 7,270 shares of the financial services provider’s stock worth $853,000 after buying an additional 119 shares during the last quarter. California State Teachers Retirement System raised 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 worth $2,632,000 after purchasing an additional 119 shares during the period. Finally, Neuberger Berman Group LLC raised 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 worth $204,000 after purchasing an additional 126 shares during the period. 92.05% of the stock is owned by institutional investors.

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.