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

McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box sold 1,000 shares of the firm’s 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 directly owns 7,500 shares of the company’s stock, valued at approximately $859,650. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

McGrath RentCorp Stock Up 1.5 %

Shares of NASDAQ:MGRC opened at $115.36 on Friday. The stock has a market cap of $2.83 billion, a PE ratio of 12.61, a PEG ratio of 1.64 and a beta of 0.75. The company’s fifty day moving average is $106.73 and its 200 day moving average is $107.36. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results 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. The company had revenue of $266.76 million for the quarter, compared to analysts’ expectations of $227.76 million. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 EPS. Sell-side analysts anticipate that McGrath RentCorp will post 5.5 EPS for the current year.

McGrath RentCorp Dividend Announcement

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

Hedge Funds Weigh In On McGrath RentCorp

Large investors have recently added to or reduced their stakes in the business. Swedbank AB increased its position in shares of McGrath RentCorp by 66.7% in the second quarter. Swedbank AB now owns 200,000 shares of the financial services provider’s stock valued at $21,310,000 after acquiring an additional 80,000 shares during the period. Quantbot Technologies LP purchased a new position in shares of McGrath RentCorp in the first quarter valued at about $1,008,000. Vaughan Nelson Investment Management L.P. increased its position in shares of McGrath RentCorp by 26.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 486,190 shares of the financial services provider’s stock valued at $51,803,000 after acquiring an additional 100,210 shares during the period. Gabelli Funds LLC increased its position in shares of McGrath RentCorp by 297.8% in the first quarter. Gabelli Funds LLC now owns 59,670 shares of the financial services provider’s stock valued at $7,361,000 after acquiring an additional 44,670 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of McGrath RentCorp in the second quarter valued at about $1,064,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Oppenheimer raised 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 report 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.