McGrath RentCorp (NASDAQ:MGRC) VP David M. Whitney Sells 5,176 Shares of 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 stock was sold at an average price of $117.00, for a total value of $605,592.00. Following the sale, the vice president now directly owns 205 shares in the company, valued at $23,985. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

McGrath RentCorp Price Performance

McGrath RentCorp stock opened at $117.28 on Thursday. The firm has a market capitalization of $2.88 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.82 and a beta of 0.75. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $130.86. The company’s 50-day moving average is $106.45 and its 200 day moving average is $107.30.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.39 by $0.48. The company 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 13.39% and a return on equity of 13.33%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. Research analysts anticipate that McGrath RentCorp will post 4.48 earnings per share 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. Investors of record on Thursday, October 17th will be issued a $0.475 dividend. The ex-dividend date is Thursday, October 17th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.62%. McGrath RentCorp’s payout ratio is 37.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of McGrath RentCorp in the 1st quarter worth $171,000. TFG Advisers LLC bought a new position in McGrath RentCorp during the 1st quarter worth about $203,000. J.W. Cole Advisors Inc. purchased a new position in McGrath RentCorp during the 1st quarter valued at about $210,000. Meeder Asset Management Inc. bought a new stake in shares of McGrath RentCorp in the 1st quarter valued at about $213,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of McGrath RentCorp by 5.4% in 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 own 92.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MGRC. StockNews.com upgraded McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Oppenheimer lifted 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.

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.