McGrath RentCorp (NASDAQ:MGRC) VP Sells $132,820.53 in Stock

McGrath RentCorp (NASDAQ:MGRC) VP Keith E. Pratt sold 3,261 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.73, for a total value of $132,820.53. Following the transaction, the vice president now directly owns 26,000 shares in the company, valued at approximately $1,058,980. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of McGrath RentCorp (NASDAQ:MGRC) traded down 0.85% on Tuesday, hitting $39.47. The stock had a trading volume of 77,342 shares. The firm’s 50 day moving average is $34.78 and its 200-day moving average is $35.13. The stock has a market capitalization of $947.00 million, a PE ratio of 22.57 and a beta of 0.97. McGrath RentCorp has a one year low of $29.27 and a one year high of $41.48.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $105.36 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. McGrath RentCorp’s revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that McGrath RentCorp will post $1.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.04 annualized dividend and a yield of 2.63%. McGrath RentCorp’s payout ratio is presently 59.43%.

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Hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its stake in McGrath RentCorp by 24.2% in the second quarter. Prudential Financial Inc. now owns 72,066 shares of the financial services provider’s stock valued at $2,495,000 after buying an additional 14,030 shares during the last quarter. American Century Companies Inc. bought a new stake in McGrath RentCorp during the second quarter valued at about $808,000. Victory Capital Management Inc. raised its stake in McGrath RentCorp by 8.1% in the second quarter. Victory Capital Management Inc. now owns 19,775 shares of the financial services provider’s stock valued at $685,000 after buying an additional 1,477 shares during the last quarter. Chartwell Investment Partners LLC bought a new stake in McGrath RentCorp during the second quarter valued at about $3,858,000. Finally, Deprince Race & Zollo Inc. raised its stake in McGrath RentCorp by 4.2% in the second quarter. Deprince Race & Zollo Inc. now owns 1,119,041 shares of the financial services provider’s stock valued at $38,752,000 after buying an additional 45,353 shares during the last quarter. Institutional investors and hedge funds own 82.64% of the company’s stock.

A number of brokerages have recently commented on MGRC. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Saturday. BidaskClub raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday.

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).

Insider Buying and Selling by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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