Kimberly Ann Box Sells 1,000 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

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

McGrath RentCorp Stock Performance

Shares of NASDAQ:MGRC opened at $115.36 on Friday. The company’s fifty day moving average is $106.73 and its 200-day moving average is $107.33. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $130.86. The company has a market capitalization of $2.83 billion, a PE ratio of 12.61, a P/E/G ratio of 1.59 and a beta of 0.74.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.48. The firm had revenue of $266.76 million for the quarter, compared to analyst estimates of $227.76 million. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. On average, analysts forecast that McGrath RentCorp will post 5.5 EPS for the current year.

McGrath RentCorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On McGrath RentCorp

Institutional investors have recently bought and sold shares of the business. Covestor Ltd increased its stake in shares of McGrath RentCorp by 15.8% in the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after buying an additional 161 shares in the last quarter. SG Americas Securities LLC acquired a new stake in McGrath RentCorp in the 1st quarter valued at about $171,000. TFG Advisers LLC bought a new position in shares of McGrath RentCorp in the first quarter worth about $203,000. J.W. Cole Advisors Inc. acquired a new position in shares of McGrath RentCorp during the first quarter worth approximately $210,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of McGrath RentCorp during the first quarter valued at approximately $213,000. 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.