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

McGrath RentCorp (NASDAQ:MGRC) VP David M. Whitney sold 5,176 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 approximately $23,985. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

McGrath RentCorp Stock Down 3.1 %

McGrath RentCorp stock opened at $113.70 on Friday. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $130.86. The firm has a fifty day moving average of $106.60 and a 200-day moving average of $107.35. The firm has a market capitalization of $2.79 billion, a P/E ratio of 22.16, a PEG ratio of 1.82 and a beta of 0.75.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.48. The company had revenue of $266.76 million during the quarter, compared to analyst estimates of $227.76 million. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, research analysts expect that McGrath RentCorp will post 4.48 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th were paid a $0.475 dividend. The ex-dividend date was Thursday, October 17th. This represents a $1.90 annualized dividend and a dividend yield of 1.67%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 37.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGRC. Magnetar Financial LLC purchased a new position in shares of McGrath RentCorp in the first quarter valued at $84,042,000. River Road Asset Management LLC boosted its stake in shares of McGrath RentCorp by 68.2% in the third 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 purchasing an additional 505,817 shares during the period. Capital Research Global Investors boosted 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 during the period. Swedbank AB purchased a new position in shares of McGrath RentCorp in the first quarter valued at $14,804,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in McGrath RentCorp by 26.0% during the 2nd 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 last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MGRC shares. 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 report on Friday, October 25th. StockNews.com raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd.

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.