Key Points
- McGrath RentCorp VP John Skenesky sold 2,000 shares at an average price of $120.41, receiving $240,820 and reducing his position by 15.83% to 10,634 shares.
- The company’s latest quarterly results fell short of expectations, with EPS of $1.37 versus the $1.47 consensus estimate and revenue of $221.11 million versus $236.51 million expected.
- McGrath RentCorp paid a quarterly dividend of $0.495 per share, representing an annualized dividend of $1.98 and a 1.6% yield; analysts maintain a “Moderate Buy” consensus with a $141.50 price target.
McGrath RentCorp (NASDAQ:MGRC - Get Free Report) VP John Skenesky sold 2,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $120.41, for a total transaction of $240,820.00. Following the completion of the transaction, the vice president owned 10,634 shares in the company, valued at $1,280,439.94. The trade was a 15.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
McGrath RentCorp Trading Down 0.0%
Shares of NASDAQ:MGRC opened at $120.48 on Friday. The company has a 50-day moving average price of $117.67 and a 200-day moving average price of $114.02. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.22 and a beta of 0.44. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $127.68.
McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $236.51 million. As a group, research analysts forecast that McGrath RentCorp will post 6.37 EPS for the current fiscal year.
McGrath RentCorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a $0.495 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.98 annualized dividend and a yield of 1.6%. McGrath RentCorp's dividend payout ratio (DPR) is 31.88%.
Hedge Funds Weigh In On McGrath RentCorp
A number of institutional investors have recently added to or reduced their stakes in MGRC. American Century Companies Inc. lifted its position in McGrath RentCorp by 0.7% during the second quarter. American Century Companies Inc. now owns 12,263 shares of the financial services provider's stock valued at $1,422,000 after buying an additional 85 shares during the period. California State Teachers Retirement System grew its position in shares of McGrath RentCorp by 0.5% in 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 buying an additional 119 shares during the period. Neuberger Berman Group LLC increased its stake in shares of McGrath RentCorp by 6.9% in the 4th quarter. Neuberger Berman Group LLC now owns 1,948 shares of the financial services provider's stock worth $204,000 after acquiring an additional 126 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of McGrath RentCorp by 1.0% in the 4th quarter. Osaic Holdings Inc. now owns 15,596 shares of the financial services provider's stock worth $1,636,000 after acquiring an additional 149 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in McGrath RentCorp by 0.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,748 shares of the financial services provider's stock valued at $7,004,000 after acquiring an additional 175 shares during the period. Institutional investors own 92.05% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings raised 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.50.
Check Out Our Latest Stock Report on McGrath RentCorp
About McGrath RentCorp
(
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
