McGrath RentCorp (NASDAQ:MGRC) Director Sells $904,800.00 in Stock

McGrath RentCorp (NASDAQ:MGRC) Director Joseph Hanna sold 7,500 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $120.64, for a total transaction of $904,800.00. Following the sale, the director directly owned 151,549 shares of the company’s stock, valued at $18,282,871.36. This represents a 4.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McGrath RentCorp Price Performance

Shares of NASDAQ:MGRC opened at $117.91 on Friday. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.20 and a beta of 0.43. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $128.41. The company’s fifty day simple moving average is $114.32 and its 200 day simple moving average is $112.03.

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

McGrath RentCorp Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, July 17th. McGrath RentCorp’s dividend payout ratio is currently 31.43%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in McGrath RentCorp by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider’s stock valued at $1,422,000 after buying an additional 85 shares during the last quarter. Diversified Trust Co. grew its holdings in shares of McGrath RentCorp by 4.6% in the 4th quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 103 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of McGrath RentCorp by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 22,696 shares of the financial services provider’s stock valued at $2,632,000 after acquiring an additional 119 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of 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 valued at $204,000 after acquiring an additional 126 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of McGrath RentCorp by 1.0% in the fourth quarter. Osaic Holdings Inc. now owns 15,596 shares of the financial services provider’s stock valued at $1,636,000 after acquiring an additional 149 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.