McGrath RentCorp (NASDAQ:MGRC) Share Price Crosses Above 200-Day Moving Average - What's Next?

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $114.38 and traded as high as $115.78. McGrath RentCorp shares last traded at $114.71, with a volume of 144,026 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 note on Friday, April 25th.

McGrath RentCorp Price Performance

The company's 50-day simple moving average is $111.96 and its 200 day simple moving average is $114.34. The firm has a market cap of $2.91 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 1.22 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, topping the consensus estimate of $1.02 by $0.13. The company 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 13.57% and a net margin of 25.81%. The firm's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.93 earnings per share. Analysts anticipate that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Dividend Announcement

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 dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, July 17th. McGrath RentCorp's dividend payout ratio (DPR) is 20.10%.

Insider Transactions at McGrath RentCorp

In other news, CAO David M. Whitney sold 500 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $116.01, for a total transaction of $58,005.00. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares of the company's stock, valued at approximately $1,034,229.15. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Trease Kristina Van sold 2,221 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $114.21, for a total transaction of $253,660.41. Following the completion of the transaction, the insider now owns 6,694 shares in the company, valued at approximately $764,521.74. The trade was a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,313 shares of company stock worth $2,005,372. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McGrath RentCorp

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

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.