McGrath RentCorp (NASDAQ:MGRC - Get Free Report) CAO David M. Whitney sold 2,221 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $114.21, for a total value of $253,660.41. Following the sale, the chief accounting officer now owns 6,694 shares of the company's stock, valued at $764,521.74. The trade was a 24.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
McGrath RentCorp Price Performance
Shares of NASDAQ:MGRC traded up $0.62 during trading on Friday, reaching $114.24. 140,135 shares of the stock were exchanged, compared to its average volume of 183,599. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $129.93. The stock has a fifty day moving average of $109.40 and a two-hundred day moving average of $115.00. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66.
McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.13. The business had revenue of $195.42 million during the quarter, compared to analyst estimates of $189.03 million. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. McGrath RentCorp's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 EPS. Sell-side analysts forecast that McGrath RentCorp will post 6.18 EPS for the current year.
McGrath RentCorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, July 17th. McGrath RentCorp's dividend payout ratio is presently 20.10%.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded McGrath RentCorp from a "hold" rating to a "buy" rating in a report on Friday, April 25th.
Check Out Our Latest Stock Report on MGRC
Institutional Investors Weigh In On McGrath RentCorp
Several large investors have recently made changes to their positions in MGRC. Barclays PLC increased its position in shares of McGrath RentCorp by 351.6% during the 3rd quarter. Barclays PLC now owns 40,555 shares of the financial services provider's stock valued at $4,269,000 after purchasing an additional 31,575 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in McGrath RentCorp by 4.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,342 shares of the financial services provider's stock valued at $933,000 after purchasing an additional 357 shares during the last quarter. KBC Group NV increased its stake in shares of McGrath RentCorp by 37.3% in the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock worth $118,000 after purchasing an additional 286 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of McGrath RentCorp in the fourth quarter valued at approximately $1,520,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of McGrath RentCorp by 1,487.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,826 shares of the financial services provider's stock valued at $312,000 after buying an additional 2,648 shares in the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.
About McGrath RentCorp
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider McGrath RentCorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and McGrath RentCorp wasn't on the list.
While McGrath RentCorp currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
