McGrath RentCorp (NASDAQ:MGRC) Director Joseph Hanna Sells 7,500 Shares

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

McGrath RentCorp Trading Down 1.7%

MGRC traded down $1.98 on Thursday, reaching $117.91. The stock had a trading volume of 174,352 shares, compared to its average volume of 235,947. The business’s 50-day moving average price is $114.16 and its two-hundred day moving average price is $111.99. The company has a market cap of $2.90 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.22 and a beta of 0.43. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $128.41.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results 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). The business had revenue of $198.54 million for the quarter, compared to analyst estimates of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. As a group, analysts predict that McGrath RentCorp will post 6.35 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid 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 presently 31.43%.

Hedge Funds Weigh In On McGrath RentCorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of McGrath RentCorp in the 3rd quarter worth $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of McGrath RentCorp by 767.7% in the second quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 238 shares during the period. Danske Bank A S acquired a new stake in McGrath RentCorp during the third quarter worth about $47,000. Strs Ohio acquired a new position in McGrath RentCorp in the 1st quarter valued at about $56,000. Finally, Covestor Ltd boosted its holdings in McGrath RentCorp by 52.0% in the 4th quarter. Covestor Ltd now owns 1,385 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.