McGrath RentCorp (NASDAQ:MGRC – Get Free Report) CAO David Whitney sold 539 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 10,316 shares of the company’s stock, valued at approximately $1,186,340. This represents a 4.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
McGrath RentCorp Trading Down 0.1%
Shares of MGRC stock opened at $109.68 on Friday. McGrath RentCorp has a 12 month low of $94.99 and a 12 month high of $128.41. The stock has a market cap of $2.69 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.12 and a beta of 0.45. The company has a 50 day simple moving average of $111.36 and a two-hundred day simple moving average of $109.57.
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 analysts’ consensus estimates of $1.13 by ($0.03). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. The business had revenue of $198.54 million for the quarter, compared to analysts’ expectations of $198.19 million. As a group, equities analysts forecast that McGrath RentCorp will post 6.35 earnings per share for the current year.
McGrath RentCorp Increases Dividend
Hedge Funds Weigh In On McGrath RentCorp
Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in shares of McGrath RentCorp by 112.7% during the third quarter. Envestnet Asset Management Inc. now owns 44,953 shares of the financial services provider’s stock worth $5,273,000 after acquiring an additional 23,817 shares during the last quarter. Ranger Investment Management L.P. bought a new position in shares of McGrath RentCorp during the third quarter worth $2,970,000. Ashton Thomas Private Wealth LLC bought a new position in shares of McGrath RentCorp during the third quarter worth $6,866,000. Channing Capital Management LLC boosted its position in shares of McGrath RentCorp by 19.8% during the third quarter. Channing Capital Management LLC now owns 601,583 shares of the financial services provider’s stock worth $70,566,000 after acquiring an additional 99,626 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new position in shares of McGrath RentCorp during the third quarter worth $1,246,000. Institutional investors own 92.05% of the company’s stock.
Analyst Ratings Changes
MGRC has been the topic of several recent analyst reports. Barclays assumed coverage on shares of McGrath RentCorp in a research report on Wednesday, February 11th. They set an “overweight” rating and a $140.00 price objective on the stock. 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 equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, McGrath RentCorp currently has an average rating of “Moderate Buy” and an average price target of $141.50.
Get Our Latest Stock Analysis on McGrath RentCorp
About McGrath RentCorp
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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