McGrath RentCorp (NASDAQ:MGRC) VP John Lieffrig Sells 2,000 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) VP John Lieffrig sold 2,000 shares of McGrath RentCorp stock in a transaction that occurred 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 transaction, the vice president owned 24,051 shares in the company, valued at $3,006,375. This trade represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 Price Performance

McGrath RentCorp stock opened at $121.55 on Tuesday. The business has a 50 day simple moving average of $113.78 and a 200-day simple moving average of $111.74. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $128.41. The stock has a market capitalization of $2.99 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 1.25 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data 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 firm had revenue of $198.54 million during the quarter, compared to analysts’ expectations of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. As a group, equities research analysts anticipate that McGrath RentCorp will post 6.35 EPS for the current year.

McGrath RentCorp Dividend Announcement

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

Analysts Set New Price Targets

Separately, Weiss Ratings lowered 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.50.

Institutional Investors Weigh In On McGrath RentCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. River Road Asset Management LLC grew its stake in shares of McGrath RentCorp by 3.1% during the 4th quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider’s stock worth $223,619,000 after purchasing an additional 64,566 shares during the period. Eminence Capital LP increased its holdings in shares of McGrath RentCorp by 0.5% in the 4th quarter. Eminence Capital LP now owns 949,673 shares of the financial services provider’s stock valued at $99,649,000 after purchasing an additional 4,701 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of McGrath RentCorp by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 906,954 shares of the financial services provider’s stock valued at $100,019,000 after purchasing an additional 47,451 shares during the period. Victory Capital Management Inc. lifted its stake in shares of McGrath RentCorp by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 900,181 shares of the financial services provider’s stock valued at $94,456,000 after purchasing an additional 6,552 shares during the period. Finally, Channing Capital Management LLC boosted its holdings in McGrath RentCorp by 39.1% during the fourth quarter. Channing Capital Management LLC now owns 836,894 shares of the financial services provider’s stock worth $87,815,000 after buying an additional 235,311 shares in the last quarter. Institutional investors and hedge funds 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.