McGrath RentCorp (NASDAQ:MGRC) VP David M. Whitney Sells 5,176 Shares

McGrath RentCorp (NASDAQ:MGRC) VP David M. Whitney sold 5,176 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $117.00, for a total transaction of $605,592.00. Following the completion of the sale, the vice president now owns 205 shares of the company’s stock, valued at $23,985. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

McGrath RentCorp Trading Up 0.9 %

MGRC traded up $1.02 during trading on Wednesday, hitting $117.28. The stock had a trading volume of 296,143 shares, compared to its average volume of 243,171. The firm has a market cap of $2.88 billion, a PE ratio of 22.66, a P/E/G ratio of 1.82 and a beta of 0.75. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $130.86. The company has a 50 day simple moving average of $106.24 and a 200-day simple moving average of $107.23.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.48. McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. The business had revenue of $266.76 million for the quarter, compared to analyst estimates of $227.76 million. During the same period in the previous year, the company posted $1.65 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that McGrath RentCorp will post 4.48 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be given a $0.475 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $1.90 annualized dividend and a dividend yield of 1.62%. McGrath RentCorp’s dividend payout ratio is 37.04%.

Hedge Funds Weigh In On McGrath RentCorp

A number of institutional investors and hedge funds have recently bought and sold shares of MGRC. River Road Asset Management LLC raised its holdings in McGrath RentCorp by 68.2% in the 3rd quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider’s stock valued at $131,324,000 after acquiring an additional 505,817 shares in the last quarter. Capital Research Global Investors raised its stake in shares of McGrath RentCorp by 67.6% in the first quarter. Capital Research Global Investors now owns 784,021 shares of the financial services provider’s stock valued at $96,725,000 after purchasing an additional 316,292 shares in the last quarter. Alpine Associates Management Inc. lifted its position in McGrath RentCorp by 9.8% in the second quarter. Alpine Associates Management Inc. now owns 710,853 shares of the financial services provider’s stock worth $75,741,000 after purchasing an additional 63,366 shares during the period. Victory Capital Management Inc. boosted its stake in McGrath RentCorp by 5.9% during the second quarter. Victory Capital Management Inc. now owns 707,698 shares of the financial services provider’s stock worth $75,405,000 after buying an additional 39,171 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in McGrath RentCorp during the first quarter worth $84,042,000. Institutional investors own 92.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.