Kimberly Ann Box Sells 1,000 Shares of McGrath RentCorp (NASDAQ:MGRC) 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 Friday, November 1st. The shares were sold at an average price of $114.62, for a total transaction of $114,620.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at $859,650. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

McGrath RentCorp Stock Performance

Shares of NASDAQ MGRC traded up $1.66 during trading on Friday, reaching $115.36. The company had a trading volume of 263,741 shares, compared to its average volume of 278,743. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $130.86. The business's 50 day moving average price is $106.73 and its 200-day moving average price is $107.33. The stock has a market cap of $2.83 billion, a PE ratio of 12.61, a PEG ratio of 1.59 and a beta of 0.74.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.48. The firm had revenue of $266.76 million during the quarter, compared to analysts' expectations of $227.76 million. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. McGrath RentCorp's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.65 EPS. Equities analysts anticipate that McGrath RentCorp will post 5.5 earnings per share for the current year.

McGrath RentCorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com raised McGrath RentCorp from a "sell" rating to a "hold" rating in a report on Tuesday, October 22nd. Oppenheimer boosted their price objective on McGrath RentCorp from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th.

Institutional Trading of McGrath RentCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Magnetar Financial LLC bought a new stake in shares of McGrath RentCorp during the 1st quarter valued at $84,042,000. River Road Asset Management LLC increased its holdings in 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 last quarter. Capital Research Global Investors lifted its stake in 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 buying an additional 316,292 shares during the period. Swedbank AB bought a new position in McGrath RentCorp during the first quarter worth about $14,804,000. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of 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 worth $51,803,000 after buying an additional 100,210 shares during the period. 92.05% of the stock is currently owned by institutional investors and hedge funds.

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.