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

McGrath RentCorp (NASDAQ:MGRC) Director Kimberly Ann Box sold 1,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $124.69, for a total value of $124,690.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $935,175. This represents a 11.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

McGrath RentCorp Stock Down 1.6 %

NASDAQ:MGRC opened at $122.00 on Friday. The company has a market cap of $3.00 billion, a PE ratio of 12.94, a P/E/G ratio of 1.35 and a beta of 0.77. McGrath RentCorp has a 52 week low of $95.50 and a 52 week high of $129.93. The business’s 50 day moving average is $118.86 and its two-hundred day moving average is $113.96.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $243.75 million for the quarter, compared to the consensus estimate of $246.93 million. McGrath RentCorp had a return on equity of 13.68% and a net margin of 25.44%. As a group, sell-side analysts expect that McGrath RentCorp will post 6.18 EPS for the current fiscal year.

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.48. McGrath RentCorp’s payout ratio is 20.57%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Oppenheimer increased their price target on McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. StockNews.com raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Friday. Finally, CJS Securities began coverage on McGrath RentCorp in a report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 target price on the stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MGRC. Atala Financial Inc acquired a new position in shares of McGrath RentCorp during the fourth quarter valued at $31,000. New Age Alpha Advisors LLC acquired a new position in shares of McGrath RentCorp during the fourth quarter valued at $33,000. KBC Group NV increased its holdings in shares of McGrath RentCorp by 32.5% during the third quarter. KBC Group NV now owns 767 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 188 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of McGrath RentCorp during the fourth quarter valued at $89,000. Finally, Covestor Ltd increased its holdings in shares of McGrath RentCorp by 15.8% during the third quarter. Covestor Ltd now owns 1,183 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 161 shares during the period. 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.