McGrath RentCorp (NASDAQ:MGRC) Shares Pass Above Two Hundred Day Moving Average - What's Next?

McGrath RentCorp (NASDAQ:MGRC - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $114.43 and traded as high as $119.71. McGrath RentCorp shares last traded at $118.46, with a volume of 146,078 shares changing hands.

Analyst Ratings Changes

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

McGrath RentCorp Trading Down 1.3%

The company has a fifty day moving average of $115.07 and a two-hundred day moving average of $114.58. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.25 and a beta of 0.66.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.13. McGrath RentCorp had a return on equity of 13.57% and a net margin of 25.81%. The firm had revenue of $195.42 million during the quarter, compared to analyst estimates of $189.03 million. During the same period in the previous year, the company earned $0.93 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Dividend Announcement

The firm also recently declared 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. This represents a $1.94 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, July 17th. McGrath RentCorp's dividend payout ratio is currently 20.10%.

Insider Buying and Selling

In other McGrath RentCorp news, COO Philip B. Hawkins sold 4,804 shares of McGrath RentCorp stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $103.57, for a total value of $497,550.28. Following the transaction, the chief operating officer directly owned 3,150 shares of the company's stock, valued at $326,245.50. The trade was a 60.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Trease Kristina Van sold 2,221 shares of McGrath RentCorp stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 6,694 shares in the company, valued at approximately $764,521.74. This represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,313 shares of company stock worth $2,005,372. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of McGrath RentCorp

Several large investors have recently made changes to their positions in the business. Atala Financial Inc acquired a new position in McGrath RentCorp in the fourth quarter valued at about $31,000. New Age Alpha Advisors LLC acquired a new stake in shares of McGrath RentCorp during the fourth quarter worth about $33,000. Strs Ohio acquired a new stake in shares of McGrath RentCorp during the first quarter worth about $56,000. Adirondack Trust Co. raised its position 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 worth $70,000 after purchasing an additional 100 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of McGrath RentCorp during the fourth quarter worth about $89,000. Institutional investors own 92.05% of the company's stock.

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.