McGrath RentCorp (NASDAQ:MGRC) Sees Large Volume Increase - Still a Buy?

Shares of McGrath RentCorp (NASDAQ:MGRC - Get Free Report) saw strong trading volume on Monday . 133,287 shares were traded during mid-day trading, a decline of 8% from the previous session's volume of 144,175 shares.The stock last traded at $112.60 and had previously closed at $112.38.

Wall Street Analyst Weigh In

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

McGrath RentCorp Stock Performance

The company's 50 day moving average is $109.40 and its 200 day moving average is $115.00. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.35 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last announced its quarterly earnings data 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. McGrath RentCorp had a net margin of 25.44% and a return on equity of 13.68%. The business had revenue of $195.42 million during the quarter, compared to analyst estimates of $189.03 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be given a $0.485 dividend. The ex-dividend date is Thursday, July 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.70%. McGrath RentCorp's dividend payout ratio is currently 20.10%.

Insider Transactions at McGrath RentCorp

In other news, COO Philip B. Hawkins sold 4,804 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $103.57, for a total transaction of $497,550.28. Following the completion of the transaction, the chief operating officer now directly owns 3,150 shares of the company's stock, valued at approximately $326,245.50. This trade represents a 60.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John P. Skenesky sold 2,500 shares of McGrath RentCorp stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $111.32, for a total value of $278,300.00. Following the sale, the vice president now directly owns 8,692 shares in the company, valued at $967,593.44. The trade was a 22.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,871 shares of company stock valued at $1,382,041. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McGrath RentCorp

A number of hedge funds have recently modified their holdings of the stock. Atala Financial Inc acquired a new position in McGrath RentCorp during the fourth quarter worth $31,000. New Age Alpha Advisors LLC bought a new position in McGrath RentCorp during the 4th quarter valued at about $33,000. Strs Ohio acquired a new position in McGrath RentCorp in the first quarter valued at about $56,000. Canada Pension Plan Investment Board bought a new stake in McGrath RentCorp during the fourth quarter worth about $89,000. Finally, KBC Group NV grew its stake in McGrath RentCorp by 37.3% during the fourth quarter. KBC Group NV now owns 1,053 shares of the financial services provider's stock worth $118,000 after buying an additional 286 shares during the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

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.