Key Points
- Insider sale: McGrath RentCorp insider Trease Kristina Van sold 539 shares on May 15 at an average price of $115, totaling about $61,985. After the sale, she still held 10,316 shares, a 4.97% reduction in her stake.
- Recent financial results: The company reported quarterly EPS of $1.10, missing analyst expectations by $0.03, while revenue of $198.54 million came in roughly in line with forecasts. Analysts currently expect full-year EPS of 6.35.
- Dividend and analyst outlook: McGrath RentCorp raised its quarterly dividend to $0.495 from $0.49, giving it an annualized yield of about 1.8%. Analysts currently rate the stock a Moderate Buy with a consensus target price of $141.50.
McGrath RentCorp (NASDAQ:MGRC - Get Free Report) insider Trease Kristina Van sold 539 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $115.00, for a total transaction of $61,985.00. Following the completion of the transaction, the insider directly owned 10,316 shares in the company, valued at $1,186,340. This trade represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
McGrath RentCorp Price Performance
Shares of MGRC stock opened at $109.92 on Wednesday. The firm has a 50-day moving average of $111.16 and a 200-day moving average of $109.55. The company has a market cap of $2.70 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.15 and a beta of 0.45. McGrath RentCorp has a one year low of $94.99 and a one year high of $128.41.
McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.03). The firm had revenue of $198.54 million during the quarter, compared to analysts' expectations of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. As a group, research analysts expect that McGrath RentCorp will post 6.35 earnings per share for the current fiscal year.
McGrath RentCorp Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th were issued a $0.495 dividend. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, April 16th. McGrath RentCorp's dividend payout ratio is currently 31.43%.
Institutional Trading of McGrath RentCorp
A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings 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 worth $13,625,000 after buying an additional 26,022 shares during the last quarter. Amundi increased its holdings in McGrath RentCorp by 113.3% during the first quarter. Amundi now owns 7,565 shares of the financial services provider's stock worth $834,000 after buying an additional 4,018 shares during the last quarter. Quantinno Capital Management LP increased its holdings 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 worth $1,624,000 after buying an additional 12,690 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in McGrath RentCorp during the first quarter worth about $3,877,000. Finally, Anchor Capital Management Company LLC increased its holdings 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 worth $20,425,000 after buying an additional 40,352 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company's stock.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Barclays assumed coverage on shares of McGrath RentCorp in a report on Wednesday, February 11th. They issued an "overweight" rating and a $140.00 target price for the company. Weiss Ratings downgraded shares of McGrath RentCorp from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, McGrath RentCorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.50.
Read Our Latest Analysis on McGrath RentCorp
McGrath RentCorp Company Profile
(
Get Free Report)
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.
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