John P. Skenesky Sells 5,000 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) VP John P. Skenesky sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $114.86, for a total transaction of $574,300.00. Following the completion of the sale, the vice president now directly owns 8,711 shares of the company’s stock, valued at approximately $1,000,545.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

McGrath RentCorp Price Performance

Shares of MGRC stock opened at $115.36 on Monday. The firm’s 50-day moving average is $106.73 and its two-hundred day moving average is $107.30. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $130.86. The company has a market capitalization of $2.83 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.59 and a beta of 0.74.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.48. The business had revenue of $266.76 million for the quarter, compared to the consensus estimate of $227.76 million. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. Sell-side analysts forecast that McGrath RentCorp will post 5.5 EPS for the current year.

McGrath RentCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.65%. The ex-dividend date was Thursday, October 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 20.77%.

Analysts Set New Price Targets

Several research analysts recently commented on MGRC shares. Oppenheimer boosted their price objective on shares of McGrath RentCorp from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note 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.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Covestor Ltd raised its position in McGrath RentCorp by 15.8% in the 3rd quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 161 shares during the last quarter. River Road Asset Management LLC grew its stake in shares of McGrath RentCorp by 68.2% during the 3rd quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider’s stock worth $131,324,000 after purchasing an additional 505,817 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of McGrath RentCorp by 8.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 7,985 shares of the financial services provider’s stock worth $841,000 after purchasing an additional 590 shares during the period. Semanteon Capital Management LP acquired a new position in shares of McGrath RentCorp during the 3rd quarter worth $537,000. Finally, Wealth Enhancement Advisory Services LLC grew 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 purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.