McGrath RentCorp (NASDAQ:MGRC) Director William J. Dawson Sells 20,000 Shares

McGrath RentCorp (NASDAQ:MGRC) Director William J. Dawson sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $115.00, for a total transaction of $2,300,000.00. Following the sale, the director now owns 4,000 shares of the company’s stock, valued at $460,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

McGrath RentCorp Stock Up 0.9 %

Shares of MGRC traded up $1.02 during trading hours on Wednesday, reaching $117.28. The company’s 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 price-to-earnings ratio of 22.66, a P/E/G ratio of 1.82 and a beta of 0.75. The company has a 50 day moving average of $106.24 and a two-hundred day moving average of $107.23. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $130.86.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results 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. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The company had revenue of $266.76 million during the quarter, compared to the consensus estimate of $227.76 million. During the same quarter in the prior year, the firm earned $1.65 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, analysts forecast that McGrath RentCorp will post 4.48 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, October 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 37.04%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Oppenheimer boosted their target price on shares of McGrath RentCorp from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 25th.

Hedge Funds Weigh In On McGrath RentCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of McGrath RentCorp during the 1st quarter worth about $171,000. TFG Advisers LLC bought a new stake in shares of McGrath RentCorp during the 1st quarter worth about $203,000. J.W. Cole Advisors Inc. bought a new stake in shares of McGrath RentCorp during the 1st quarter worth about $210,000. Meeder Asset Management Inc. bought a new stake in shares of McGrath RentCorp during the 1st quarter worth about $213,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of McGrath RentCorp by 5.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,024 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

McGrath RentCorp Company Profile

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.