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

Shares of McGrath RentCorp (NASDAQ:MGRC - Get Free Report) crossed 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.

Wall Street Analysts Forecast Growth

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

McGrath RentCorp Stock Down 0.4%

The firm's 50-day simple moving average is $114.32 and its 200-day simple moving average is $114.43. The firm has a market capitalization of $2.92 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.24 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 analysts' consensus estimates of $1.02 by $0.13. McGrath RentCorp had a net margin of 25.81% and a return on equity of 13.57%. The company had revenue of $195.42 million during the quarter, compared to analyst estimates of $189.03 million. During the same period in the prior year, the business posted $0.93 earnings per share. McGrath RentCorp's revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, July 17th. McGrath RentCorp's dividend payout ratio is presently 20.10%.

Insider Activity at McGrath RentCorp

In other McGrath RentCorp news, COO Philip B. Hawkins sold 4,804 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $103.57, for a total value of $497,550.28. Following the sale, the chief operating officer owned 3,150 shares in the company, valued at $326,245.50. The trade was a 60.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Trease Kristina Van sold 2,221 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $114.21, for a total transaction of $253,660.41. Following the completion of the sale, the insider directly owned 6,694 shares of the company's stock, valued at approximately $764,521.74. This trade represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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.

Institutional Investors Weigh In On McGrath RentCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atala Financial Inc acquired a new position in McGrath RentCorp during the 4th quarter valued at approximately $31,000. New Age Alpha Advisors LLC acquired a new stake in McGrath RentCorp during the fourth quarter valued at $33,000. Strs Ohio acquired a new stake in McGrath RentCorp during the first quarter valued at $56,000. Canada Pension Plan Investment Board acquired a new stake in McGrath RentCorp during the fourth quarter valued at $89,000. Finally, Focus Partners Wealth acquired a new stake in McGrath RentCorp during the fourth quarter valued at $136,000. Hedge funds and other institutional investors own 92.05% of the company's stock.

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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