McGrath RentCorp (NASDAQ:MGRC) Stock Passes Above 200 Day Moving Average - Should You Sell?

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 trading hands.

Analyst Upgrades and Downgrades

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 firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.24 and a beta of 0.66. The company has a fifty day moving average of $114.58 and a two-hundred day moving average of $114.46.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last released its quarterly 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. The business had revenue of $195.42 million during the quarter, compared to analysts' expectations of $189.03 million. McGrath RentCorp had a return on equity of 13.57% and a net margin of 25.81%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.93 EPS. Equities analysts forecast that McGrath RentCorp will post 6.18 EPS for the current year.

McGrath RentCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 17th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, July 17th. This represents a $1.94 annualized dividend and a yield of 1.60%. McGrath RentCorp's payout ratio is currently 20.10%.

Insider Buying and Selling at McGrath RentCorp

In other McGrath RentCorp news, COO Philip B. Hawkins sold 4,804 shares of McGrath RentCorp stock in a transaction 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph F. Hanna sold 5,567 shares of McGrath RentCorp stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $108.89, for a total value of $606,190.63. Following the completion of the transaction, the chief executive officer directly owned 176,897 shares of the company's stock, valued at $19,262,314.33. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,313 shares of company stock worth $2,005,372 in the last 90 days. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On McGrath RentCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atala Financial Inc acquired a new position in McGrath RentCorp in the 4th quarter valued at $31,000. New Age Alpha Advisors LLC acquired a new position in McGrath RentCorp in the 4th quarter valued at $33,000. Strs Ohio acquired a new position in McGrath RentCorp in the 1st quarter valued at $56,000. Canada Pension Plan Investment Board acquired a new position in McGrath RentCorp in the 4th quarter valued at $89,000. Finally, Focus Partners Wealth acquired a new position in McGrath RentCorp in the 4th quarter valued at $136,000. 92.05% of the stock is 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.