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

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) Director Kimberly Ann Box sold 1,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $124.69, for a total transaction of $124,690.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at $935,175. This represents a 11.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

McGrath RentCorp Trading Down 1.9 %

Shares of McGrath RentCorp stock traded down $2.34 during trading on Monday, hitting $119.66. 227,389 shares of the stock traded hands, compared to its average volume of 148,455. The stock's fifty day simple moving average is $118.86 and its 200 day simple moving average is $114.11. The firm has a market cap of $2.94 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 1.35 and a beta of 0.77. McGrath RentCorp has a 52-week low of $95.50 and a 52-week high of $129.93.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. As a group, equities analysts expect that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This is an increase from McGrath RentCorp's previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a yield of 1.62%. McGrath RentCorp's payout ratio is currently 20.57%.

Institutional Investors Weigh In On McGrath RentCorp

Several institutional investors have recently bought and sold shares of MGRC. Raymond James & Associates boosted its holdings in McGrath RentCorp by 47.2% in the third quarter. Raymond James & Associates now owns 67,140 shares of the financial services provider's stock worth $7,068,000 after acquiring an additional 21,540 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in 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 in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of McGrath RentCorp by 8.0% during the third quarter. Janney Montgomery Scott LLC now owns 7,985 shares of the financial services provider's stock worth $841,000 after buying an additional 590 shares during the period. River Road Asset Management LLC grew its holdings in shares of McGrath RentCorp by 68.2% during 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 buying an additional 505,817 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of 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 acquiring an additional 161 shares during the period. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MGRC. Oppenheimer raised their price target on McGrath RentCorp from $124.00 to $139.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. StockNews.com raised shares of McGrath RentCorp from a "hold" rating to a "buy" rating in a research report on Friday. Finally, CJS Securities initiated coverage on McGrath RentCorp in a report on Wednesday, December 11th. They set an "outperform" rating and a $152.00 price objective for the company.

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.