McGrath RentCorp (NASDAQ:MGRC) VP John Skenesky Sells 2,000 Shares

Key Points

• VP John Skenesky sold 2,000 McGrath RentCorp shares at an average price of $120.41, totaling $240,820 and reducing his position by 15.83% to 10,634 shares.
• McGrath RentCorp’s latest quarterly results fell short of expectations, with adjusted EPS of $1.37 versus the $1.47 consensus and revenue of $221.11 million versus estimates of $236.51 million.
• The company pays a quarterly dividend of $0.495 per share, or $1.98 annually, yielding about 1.6%; analysts maintain a “Moderate Buy” consensus with an average price target of $141.50.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) VP John Skenesky sold 2,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $120.41, for a total value of $240,820.00. Following the sale, the vice president owned 10,634 shares in the company, valued at $1,280,439.94. This represents a 15.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

McGrath RentCorp Trading Down 0.0%

MGRC traded down $0.06 on Thursday, reaching $120.48. The stock had a trading volume of 91,344 shares, compared to its average volume of 185,247. The company has a market capitalization 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 fifty-two week low of $94.99 and a fifty-two week high of $127.68. The firm has a 50-day moving average of $117.45 and a 200-day moving average of $113.97.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced 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). The firm had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. Sell-side analysts anticipate that McGrath RentCorp will post 6.37 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The firm 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 annualized dividend and a yield of 1.6%. McGrath RentCorp's dividend payout ratio (DPR) is currently 31.88%.

Institutional Investors Weigh In On McGrath RentCorp

Several institutional investors and hedge funds have recently made changes to their positions in MGRC. American Century Companies Inc. lifted its stake in McGrath RentCorp by 0.7% during 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 in the last quarter. California State Teachers Retirement System grew its stake 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 acquiring an additional 119 shares in the last quarter. Neuberger Berman Group LLC raised its holdings 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 during the last quarter. Osaic Holdings Inc. raised its holdings 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of McGrath RentCorp by 0.3% during the fourth 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 purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of McGrath RentCorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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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