Kimberly Ann Box Sells 1,000 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box sold 1,000 shares of McGrath RentCorp stock in a transaction on Friday, November 1st. The stock was sold at an average price of $114.62, for a total transaction of $114,620.00. Following the sale, the director now owns 7,500 shares of the company’s stock, valued at $859,650. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

McGrath RentCorp Stock Up 1.5 %

Shares of MGRC stock traded up $1.66 on Friday, hitting $115.36. The company had a trading volume of 263,741 shares, compared to its average volume of 244,792. The firm has a market cap of $2.83 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 1.64 and a beta of 0.75. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $130.86. The company has a 50-day moving average price of $106.60 and a 200-day moving average price of $107.35.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.48. The business had revenue of $266.76 million for the quarter, compared to analysts’ expectations of $227.76 million. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. Equities research analysts expect that McGrath RentCorp will post 5.5 EPS for the current year.

McGrath RentCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.65%. McGrath RentCorp’s payout ratio is 20.77%.

Wall Street Analysts Forecast Growth

MGRC has been the subject of a number of research analyst reports. StockNews.com upgraded McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their price objective on shares of McGrath RentCorp from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 25th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MGRC. River Road Asset Management LLC grew its position in shares of McGrath RentCorp by 68.2% during the 3rd quarter. River Road Asset Management LLC now owns 1,247,376 shares of the financial services provider’s stock valued at $131,324,000 after acquiring an additional 505,817 shares during the period. Capital Research Global Investors boosted its position in McGrath RentCorp by 67.6% during the first quarter. Capital Research Global Investors now owns 784,021 shares of the financial services provider’s stock worth $96,725,000 after purchasing an additional 316,292 shares in the last quarter. Alpine Associates Management Inc. grew its holdings in McGrath RentCorp by 9.8% in the second quarter. Alpine Associates Management Inc. now owns 710,853 shares of the financial services provider’s stock valued at $75,741,000 after purchasing an additional 63,366 shares during the period. Victory Capital Management Inc. increased its position in shares of McGrath RentCorp by 5.9% in the second quarter. Victory Capital Management Inc. now owns 707,698 shares of the financial services provider’s stock valued at $75,405,000 after buying an additional 39,171 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of McGrath RentCorp during the 1st quarter worth approximately $84,042,000. Institutional investors and hedge funds 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.