Kimberly Ann Box Sells 1,500 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

Key Points

• Kimberly Ann Box, a director at McGrath RentCorp, sold 1,500 shares of the company stock at an average price of $118.50, reducing her ownership by 17.65%.
• McGrath RentCorp reported quarterly earnings of $1.46 EPS, exceeding expectations and reflecting a 10.8% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.485 per share, yielding 1.6%, with a low dividend payout ratio of 18.89%.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) Director Kimberly Ann Box sold 1,500 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $118.50, for a total value of $177,750.00. Following the sale, the director owned 7,000 shares of the company's stock, valued at $829,500. This represents a 17.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

McGrath RentCorp Trading Up 0.4%

McGrath RentCorp stock traded up $0.46 during mid-day trading on Friday, reaching $117.90. The company's stock had a trading volume of 90,368 shares, compared to its average volume of 119,035. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $129.93. The business has a 50 day moving average price of $117.55 and a 200-day moving average price of $115.38. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.21 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.16. McGrath RentCorp had a net margin of 26.81% and a return on equity of 13.52%. The company had revenue of $235.62 million for the quarter, compared to the consensus estimate of $220.71 million. During the same period last year, the firm posted $0.84 EPS. The company's revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts expect that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, July 17th. McGrath RentCorp's dividend payout ratio is presently 18.89%.

Institutional Trading of McGrath RentCorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in McGrath RentCorp during the 2nd quarter worth $37,000. Strs Ohio bought a new stake in McGrath RentCorp in the first quarter valued at $56,000. Adirondack Trust Co. boosted its holdings in shares of McGrath RentCorp by 20.0% during the second quarter. Adirondack Trust Co. now owns 600 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 100 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of McGrath RentCorp during the fourth quarter worth about $89,000. Finally, Focus Partners Wealth acquired a new stake in shares of McGrath RentCorp in the 4th quarter worth about $136,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded McGrath RentCorp from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

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.

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