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In a recent transaction reported to the Securities and Exchange Commission, Keith E. Pratt, the Executive Vice President and Chief Financial Officer of McGrath RentCorp (NASDAQ:MGRC), a $2.86 billion equipment rental company with strong financial health according to InvestingPro metrics, sold 5,000 shares of the company’s common stock. The shares were sold at a weighted average price of $115.2197, resulting in a total sale value of approximately $576,098. Following this transaction, Pratt retains direct ownership of 61,767 shares in the company. The shares were sold in multiple transactions, with prices ranging from $115.20 to $115.39. The company, which trades at an attractive P/E ratio of 11.02 and has increased its dividend for 27 consecutive years, currently appears slightly undervalued according to InvestingPro’s Fair Value analysis.
In other recent news, McGrath RentCorp reported its first-quarter 2025 earnings, revealing a mixed performance. The company exceeded earnings per share (EPS) expectations with a reported EPS of $1.15, surpassing the forecasted $0.99. However, revenue did not meet expectations, coming in at $154 million compared to the anticipated $189.56 million. Despite the revenue shortfall, McGrath RentCorp’s Mobile Modular segment saw a 3% revenue increase, demonstrating stability in this area. The company’s adjusted EBITDA increased by 3% to $74.5 million, reflecting overall resilience in its operations. Analysts from firms like Oppenheimer noted the earnings surprise but also highlighted challenges in the commercial construction market that could impact future growth. McGrath RentCorp also announced revenue guidance for the full year, projecting between $920 million and $960 million, with adjusted EBITDA expected to range from $343 million to $355 million. The company remains cautious due to economic uncertainties, particularly in the commercial construction sector, which could affect revenue growth in the latter half of the year.
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