Insider Selling: McGrath RentCorp (NASDAQ:MGRC) CAO Sells $429,937.95 in Stock

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

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $115.09 on Monday. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The company’s 50-day simple moving average is $112.35 and its 200-day simple moving average is $110.53. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $128.41.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate 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. Equities research analysts anticipate that McGrath RentCorp will post 6.35 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is 31.43%.

Hedge Funds Weigh In On McGrath RentCorp

A number of institutional investors and hedge funds have recently bought and sold shares of MGRC. American Century Companies Inc. raised its holdings 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 acquiring an additional 85 shares during the last quarter. Diversified Trust Co. boosted its holdings in shares of McGrath RentCorp by 4.6% during the 4th quarter. Diversified Trust Co. now owns 2,332 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 103 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of McGrath RentCorp by 0.5% during the 2nd 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 last quarter. Neuberger Berman Group LLC grew 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 purchasing an additional 126 shares in the last quarter. Finally, Osaic Holdings Inc. grew 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 purchasing an additional 149 shares in the last quarter. 92.05% of the stock is currently 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.