McGrath RentCorp (NASDAQ:MGRC) CEO Philip Hawkins Sells 4,435 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) CEO Philip Hawkins sold 4,435 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $120.91, for a total transaction of $536,235.85. Following the transaction, the chief executive officer owned 13,371 shares of the company’s stock, valued at approximately $1,616,687.61. This represents a 24.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

McGrath RentCorp Stock Performance

Shares of MGRC opened at $120.48 on Friday. McGrath RentCorp has a 52 week low of $94.99 and a 52 week high of $127.68. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.22 and a beta of 0.44. The stock has a fifty day moving average of $117.67 and a 200-day moving average of $114.02.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%.The business had revenue of $221.11 million for the quarter, compared to the consensus estimate of $236.51 million. As a group, equities analysts forecast that McGrath RentCorp will post 6.37 EPS for the current year.

McGrath RentCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is currently 31.88%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Two equities 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.50.

Institutional Trading of McGrath RentCorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC boosted its holdings in McGrath RentCorp by 11.0% in the 2nd quarter. Algert Global LLC now owns 59,827 shares of the financial services provider’s stock valued at $7,241,000 after purchasing an additional 5,910 shares during the period. Cibc World Market Inc. bought a new position in McGrath RentCorp in the 2nd quarter worth about $2,160,000. Ranger Investment Management L.P. bought a new position in McGrath RentCorp in the 2nd quarter worth about $4,770,000. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of McGrath RentCorp in the 2nd quarter valued at about $35,716,921,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of McGrath RentCorp during the 2nd quarter valued at about $242,000. 92.05% of the stock is currently owned by institutional investors.

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.