McGrath RentCorp (NASDAQ:MGRC) SVP Sells $88,943.41 in Stock

McGrath RentCorp (NASDAQ:MGRC) SVP Gilda Malek sold 829 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $107.29, for a total value of $88,943.41. Following the transaction, the senior vice president directly owned 4,068 shares of the company’s stock, valued at $436,455.72. The trade was a 16.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

McGrath RentCorp Trading Down 0.3%

Shares of MGRC stock traded down $0.37 during trading hours on Tuesday, reaching $107.54. The company’s stock had a trading volume of 123,372 shares, compared to its average volume of 137,053. The stock has a market capitalization of $2.65 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.13 and a beta of 0.51. McGrath RentCorp has a one year low of $94.99 and a one year high of $129.93. The firm’s fifty day simple moving average is $107.87 and its 200 day simple moving average is $115.11.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.11). McGrath RentCorp had a net margin of 15.62% and a return on equity of 12.59%. The business had revenue of $256.44 million for the quarter, compared to the consensus estimate of $266.62 million. During the same quarter in the prior year, the company earned $1.87 EPS. McGrath RentCorp’s revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be issued a $0.485 dividend. The ex-dividend date is Friday, January 16th. This represents a $1.94 annualized dividend and a yield of 1.8%. McGrath RentCorp’s dividend payout ratio is 32.83%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MGRC shares. Weiss Ratings cut shares of McGrath RentCorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 30th. Oppenheimer raised their price objective on shares of McGrath RentCorp from $139.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.00.

Institutional Trading of McGrath RentCorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new position in McGrath RentCorp in the 3rd quarter worth approximately $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of McGrath RentCorp in the 3rd quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of McGrath RentCorp by 767.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 269 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 238 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of McGrath RentCorp during the second quarter worth $37,000. Finally, Danske Bank A S bought a new position in McGrath RentCorp in the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

About McGrath RentCorp

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.