McGrath RentCorp (MGRC) VP Sells $100,000.00 in Stock
McGrath RentCorp (NASDAQ:MGRC) VP Kay Dashner sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the vice president now owns 6,998 shares in the company, valued at $279,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
McGrath RentCorp (NASDAQ MGRC) traded up 2.88% during trading on Thursday, hitting $40.37. 96,396 shares of the company traded hands. The stock has a 50 day moving average price of $36.77 and a 200 day moving average price of $35.20. The company has a market capitalization of $968.60 million, a P/E ratio of 23.08 and a beta of 0.97. McGrath RentCorp has a 12-month low of $29.26 and a 12-month high of $41.61.
McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.10. McGrath RentCorp had a return on equity of 10.62% and a net margin of 9.74%. The business had revenue of $109.58 million for the quarter, compared to analysts’ expectations of $105.36 million. During the same period in the previous year, the business posted $0.38 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that McGrath RentCorp will post $1.88 earnings per share for the current year.
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Large investors have recently made changes to their positions in the stock. US Bancorp DE boosted its stake in shares of McGrath RentCorp by 17,333.3% in the second quarter. US Bancorp DE now owns 4,184 shares of the financial services provider’s stock worth $145,000 after buying an additional 4,160 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of McGrath RentCorp by 260.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the financial services provider’s stock worth $155,000 after buying an additional 3,241 shares in the last quarter. Airain ltd purchased a new stake in shares of McGrath RentCorp during the first quarter worth about $201,000. Thrivent Financial For Lutherans purchased a new stake in shares of McGrath RentCorp during the second quarter worth about $246,000. Finally, Legal & General Group Plc boosted its stake in shares of McGrath RentCorp by 2.4% in the second quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock worth $252,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 82.54% of the company’s stock.
Several research firms recently commented on MGRC. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Saturday, August 5th. BidaskClub upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th.
McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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