David Whitney Sells 3,783 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) CAO David Whitney sold 3,783 shares of McGrath RentCorp stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $113.65, for a total value of $429,937.95. Following the sale, the chief accounting officer directly owned 6,533 shares of the company’s stock, valued at approximately $742,475.45. This trade represents a 36.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

McGrath RentCorp Stock Up 0.2%

Shares of McGrath RentCorp stock opened at $115.09 on Friday. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $128.41. The business has a fifty day simple moving average of $112.35 and a 200 day simple moving average of $110.45. The stock has a market cap of $2.83 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

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 company had revenue of $198.54 million for the quarter, compared to analyst estimates of $198.19 million. Analysts expect that McGrath RentCorp will post 6.35 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, July 17th. McGrath RentCorp’s dividend payout ratio is presently 31.43%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in 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 purchasing an additional 26,022 shares during the last quarter. Amundi boosted its position in McGrath RentCorp by 113.3% during the first quarter. Amundi now owns 7,565 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 4,018 shares during the last quarter. Quantinno Capital Management LP boosted its position in McGrath RentCorp by 622.7% during the first quarter. Quantinno Capital Management LP now owns 14,728 shares of the financial services provider’s stock valued at $1,624,000 after purchasing an additional 12,690 shares during the last quarter. Lazard Asset Management LLC acquired a new position in McGrath RentCorp during the first quarter valued at approximately $3,877,000. Finally, Anchor Capital Management Company LLC boosted its position in McGrath RentCorp by 27.9% during the first quarter. Anchor Capital Management Company LLC now owns 185,211 shares of the financial services provider’s stock valued at $20,425,000 after purchasing an additional 40,352 shares during the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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