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

Key Points

• CEO Philip Hawkins sold 4,435 shares of McGrath RentCorp at an average price of $120.91, generating approximately $536,236; his direct ownership fell 24.91% to 13,371 shares.
• McGrath RentCorp’s latest quarter fell short of expectations, with EPS of $1.37 versus the $1.47 consensus and revenue of $221.11 million versus estimates of $236.51 million.
• The stock recently traded around $120.48, while analysts maintain a “Moderate Buy” consensus with an average price target of $141.50; the company also pays a quarterly dividend of $0.495 per share.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) CEO Philip Hawkins sold 4,435 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $120.91, for a total value of $536,235.85. Following the sale, the chief executive officer directly owned 13,371 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link.

McGrath RentCorp Price Performance

Shares of NASDAQ:MGRC traded down $0.06 during trading on Thursday, hitting $120.48. 91,344 shares of the company's stock were exchanged, compared to its average volume of 185,247. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $127.68. The business's 50-day simple moving average is $117.45 and its 200 day simple moving average is $113.97. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.22 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.37 EPS 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 during the quarter, compared to analysts' expectations of $236.51 million. On average, sell-side analysts anticipate that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

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

Institutional Trading of McGrath RentCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. River Road Asset Management LLC lifted its stake in McGrath RentCorp by 3.1% in the fourth quarter. River Road Asset Management LLC now owns 2,131,121 shares of the financial services provider's stock worth $223,619,000 after purchasing an additional 64,566 shares during the last quarter. Comerica Bank grew its stake in shares of McGrath RentCorp by 96.8% during the fourth quarter. Comerica Bank now owns 58,374 shares of the financial services provider's stock valued at $6,125,000 after buying an additional 28,719 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of McGrath RentCorp by 28.8% during the fourth quarter. Gabelli Funds LLC now owns 49,243 shares of the financial services provider's stock valued at $5,167,000 after buying an additional 11,011 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of McGrath RentCorp in the first quarter worth approximately $3,877,000. Finally, Tributary Capital Management LLC bought a new stake in shares of McGrath RentCorp during the 4th quarter worth approximately $9,063,000. Hedge funds and other institutional investors own 92.05% of the company's stock.

Analyst Ratings Changes

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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.50.

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.

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