Insider Selling: McGrath RentCorp (NASDAQ:MGRC) Director Sells 1,000 Shares of Stock

McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $114.62, for a total value of $114,620.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $859,650. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

McGrath RentCorp Stock Performance

McGrath RentCorp stock traded up $1.66 during mid-day trading on Friday, reaching $115.36. 263,741 shares of the company were exchanged, compared to its average volume of 244,792. The firm has a market cap of $2.83 billion, a P/E ratio of 12.62, a PEG ratio of 1.64 and a beta of 0.75. The business has a fifty day moving average of $106.60 and a 200 day moving average of $107.35. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.48. McGrath RentCorp had a return on equity of 13.64% and a net margin of 25.29%. The firm had revenue of $266.76 million during the quarter, compared to analysts’ expectations of $227.76 million. During the same period in the prior year, the business posted $1.65 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Sell-side analysts predict that McGrath RentCorp will post 5.5 EPS for the current year.

McGrath RentCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Thursday, October 17th. McGrath RentCorp’s dividend payout ratio is currently 20.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in McGrath RentCorp during the first quarter valued at approximately $171,000. TFG Advisers LLC acquired a new stake in shares of McGrath RentCorp in the 1st quarter worth $203,000. J.W. Cole Advisors Inc. purchased a new stake in McGrath RentCorp in the first quarter valued at about $210,000. Meeder Asset Management Inc. acquired a new stake in McGrath RentCorp in the first quarter worth about $213,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of McGrath RentCorp by 5.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Oppenheimer increased their price target on McGrath RentCorp from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd.

McGrath RentCorp Company Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.