McGrath RentCorp (NASDAQ:MGRC) CEO Sells $1,898,899.20 in Stock

McGrath RentCorp (NASDAQ:MGRC) CEO Joseph F. Hanna sold 15,840 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $119.88, for a total value of $1,898,899.20. Following the transaction, the chief executive officer now directly owns 155,409 shares in the company, valued at $18,630,430.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

McGrath RentCorp Stock Down 1.3 %

Shares of NASDAQ:MGRC traded down $1.58 during trading on Thursday, hitting $120.97. The stock had a trading volume of 284,460 shares, compared to its average volume of 246,550. The company has a market capitalization of $2.97 billion, a PE ratio of 13.22, a PEG ratio of 1.62 and a beta of 0.74. The firm’s fifty day moving average is $107.64 and its 200 day moving average is $107.58. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $130.86.

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

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were given 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 1.57%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 20.77%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. KBC Group NV raised its holdings in McGrath RentCorp by 32.5% in the third quarter. KBC Group NV now owns 767 shares of the financial services provider’s stock worth $81,000 after buying an additional 188 shares during the last quarter. Covestor Ltd raised its holdings in McGrath RentCorp by 15.8% in the 3rd quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 161 shares during the last quarter. SG Americas Securities LLC bought a new position in McGrath RentCorp in the 1st quarter valued at approximately $171,000. TFG Advisers LLC purchased a new stake in McGrath RentCorp during the 1st quarter valued at $203,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of McGrath RentCorp in the 1st quarter worth $213,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Analyst Ratings Changes

MGRC has been the topic of several recent analyst reports. Oppenheimer lifted their price target on shares of McGrath RentCorp from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd.

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.